HONDA CARS Philippines, Inc. (HCPI) said it plans to introduce more hybrid electric vehicle (HEV) models in the approaching years because it expects demand for hybrids to grow, although the corporate stays cautious in regards to the pace of electrification as a consequence of infrastructure limitations within the Philippines.
“We are going to introduce our next-generation hybrid models in the approaching years,” HCPI President Hidekazu Arai told reporters on the sidelines of a press briefing for the upcoming 10th Philippine International Motor Show on Wednesday.
Mr. Arai said the corporate sees continued growth potential for hybrid vehicles within the local market, but noted that infrastructure readiness and consumer demand remain key considerations for automakers.
“Electrification is very important for the longer term, but we’d like to think in regards to the real customer demand and infrastructure,” he said.
“I feel we would love to maneuver step-by-step and to adapt to the shoppers’ real needs,” he added.
HCPI has launched 4 HEV models within the Philippine market — the CR-V RS e:HEV, Civic RS e:HEV, HR-V RS e:HEV, and Prelude.
Hybrid electric vehicles accounted for 72.73% of total electric vehicle (EV) sales as of end-March, based on a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).
In the course of the period, HEV sales rose by 9.9% to eight,261 units from 7,515 units a 12 months earlier.
The corporate also said it has no plans to boost vehicle prices for now despite rising fuel prices and softer market demand.
“Gas prices are increasing, and I understand that demand is getting softer, but we don’t wish to compete price alone,” Mr. Arai said.
“We would love to boost the full value, including customer support after-sales,” he added.
Mr. Arai, 41, was appointed HCPI president on April 1, becoming the youngest top executive to steer the corporate.
“I see my age as a strength, because I bring a long-term viewpoint,” he said.
“My top priority is to hearken to the voices of consumers, departments and our dealers.”
HCPI ranked fifth in total vehicle sales as of end-March despite a 5.2% decline in sales to three,968 units, based on the CAMPI-TMA report. — Beatriz Marie D. Cruz