MANILA, Philippines — Honda Cars Philippines Inc. (HCPI) aims to increase its share in the subcompact crossover sports utility vehicle (SUV) market to 10 percent through its new HR-V.
Louie Soriano, who serves as general manager for sales at HCPI, said during the launch of the HR-V yesterday, the automotive firm wants to grow its share in the subcompact crossover SUV market by more than three-fold from the current three percent.
“We’re looking at selling about 1,400 [units of HR-V] annually. So, basically, 120 units per month,” he said.
When the HR-V was launched in 2015, he said HCPI was dominating the segment.
Due to the competitive landscape, however, it lost some of its market share.
Soriano said the company would like to capture some of its lost market share in the segment through the new HR-V.
He said the HR-V accounts for about less than 10 percent of HCPI’s total sales.
HCPI president Masahiko Nakamura said the HR-V features a more spacious interior, as well as the Honda SENSING driver assistance technologies.
“The new HR-V features Honda Sensing which features wider view and improved software to provide better protection for the vehicle occupant and for those who share the road,” he said.
Honda’s driver assistance technologies include collision mitigation braking system, adaptive cruise control with low-speed follow, lane keeping assist system, road departure mitigation system with lane departure warning, auto high-beam, and lead car departure notification system.
With all new HR-V, HCPI wants to cater to more Filipino families that are tech-savvy, sophisticated and looking for a vehicle that is practical, versatile and with advanced safety features.
HR-V is available in two variants: the S CVT which retails for P1.25 million and the V Turbo CVT available at P1.598 million.
As of the first quarter, HCPI sold 3,885 units, 12.6 percent higher than the 3,450 units sold in the same period last year.