Honda Philippines celebrates 200,000th sale in 2008
Honda Philippines was established on October 1990 and CKD production started in 1992.
As of today, the production of Honda in the Philippine is tagged at around 15,000 units per year and production of these Honda units is concentrated on its production facility measuring 236,000 square kilometers.
The company currently maintains around 700 employees. Working capital of the company is around 1.8 billion in pesos and this amount is sourced primarily from the three major investors in the company.
The list of major investors in Honda Philippines includes;
. Honda Motor Co. Ltd. The company has a share of 74.2 percent in Honda Philippines.
. Ayala Corporation. This company has 12.9 percent share.
. Rizal Commercial Banking Corporation. This company has 12.9 share.
The entry and the involvement of this company in the Motor Vehicle Development Program has pushed them to invest around 1.8 billion pesos in the local manufacturing of vehicles and this fund was used as well on their state-of-the-art production plant. The entry of the company into the Philippine market has also brought a number of benefits not just to Honda in general but for the economy of the Philippines too. Their entry has paved the way for the entry and the emergence of many auto parts suppliers in the country.
As a sign of growth of the company in the Philippines, the number of dealer investors has risen too. As of the last count there are around 10 Manila dealerships and these dealerships have contributed to the local economies where these dealerships are situated. In general these dealerships that are located mostly in Metropolitan Manila have invested around 1 billion in the business and they also provided employment to 2,000.
Currently there are five major Honda models that are offered in the country and the list of models include the Honda City, Honda Civic, Honda CRV, Honda Jazz and Honda Accord.
. Honda City. This car which is also known by the name of Honda Fit Aria is a sub-compact car that makes use of the company's Global Small Car Platform. This platform is also used on the Honda Jazz and the Fit. This is an old model for Honda since this was first offered in the market since 1981.
. Honda Civic. The Honda Civic carries the name of one of the longest and continuously running nameplate in the US market. Only the Toyota Corolla is longer than the Civic.
. Honda CRV. The CRV in the name stands for compact recreational vehicle. This is a compact crossover SUV that was manufactured and offered in the market since 1996. This was introduced in the market to address the needs of consumers for a sport utility vehicle.
. Honda Jazz. This is also known as the Honda Fit in other markets. The Jazz also makes use of the Global Small Car platform which is also the platform that is used by the Fiat Aria and the Honda City.
. Honda Accord. The name Accord will refer to a series of mid-range vehicles made by Honda for many markets. This is one of the best-selling models in the US market.
The auto models of Honda in the country have achieved considerable success. Though Honda in the Philippines is relatively young since this was opened in 1990, the company still managed to get a considerable part of the market.
By June 16, 2008 the company has hit a milestone worth celebrating as the company notch its 200,000 sales mark. This is a great milestone for the company who has helped the economy and the Philippine automotive industry as a whole.
The achievement of this milestone by the company was met with a celebration to commemorate the said feat. The HCPI honors its 200,000th Honda owner. The recipient bought his 2.4L CR-V from Honda Cars Alabang. Safety for his family is his primary concern why he chose Honda CRV and of course, choosing the model was due to the fact that this is a highly reputable brand as well. And Honda passes both standards. His CR-V has been recognized as 2007 'Top Safety Pick' by the US Insurance Institute for Highway Safety IIHS. The CR-V is just one of the reasons why Honda Philippines is one of the leading brands in the country.
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