To achieve this goal, Honda launched Monday evening its 2004 2.0 liter Civic, which according to HCPI president and general manager Mitsunari Takano is a class by itself.
"HCPI is hoping to increase its total vehicles sales this year to 17,000 units compared to its actual sales last year of only 15,300 units," Takano said.
For its newly-launched Civic model, Takano is optimistically projecting to sell 4,000 units, double its sales last year of only 2,000 units, even though the new Civic will carry a hefty price tag of P965,000 for its premium automatic transmission.
Takano disclosed that Honda this year would shift its production to the Civic model.
Last year, Takano said, Honda had focused on the CRV model.
However, with the implementation of the new excise tax system which lowers the taxes on passenger cars, Takano expects passenger car sales to surge.
Takano acknowledged government’s help to the automatic industry following the implementation of the new excise tax.
Takano said that the local automotive industry would be more cost effective if it could source more parts locally.
At present, Takano said, HCPI still has to import majority of auto parts from Japan.
The new Civic, for instance, Takano disclosed, has a local content of only 35 percent.
The Philippines, Takano pointed out, has a lot of skilled engineers and manpower who are capable of producing quality auto parts.