Although the Malaysian Automotive Association (MAA) has forecast a 7.4% lower Total Industry Volume (TIV) in 2024 than what was achieved in 2023, Honda Malaysia believes it can do better and has set a sales target of 95,000 units. This is almost 19% more than the target it set for last year (which it met), which is expected to give it a market share of 12.8%.
Revealing the strategic business plan for 2024, Honda Malaysia’s Managing Director and CEO, Hironobu Yoshimura, said Honda Malaysia is ready to continue embracing the evolving automotive landscape and powering business momentum.
“2024 will continue to be a challenging year for the automotive industry. Nevertheless, Honda Malaysia remains committed to driving success to new heights this year, built on the back of our remarkable achievements in 2023. That includes our latest milestone of retaining the No.1 position in the Non-National Passenger Vehicle Segment for the tenth consecutive year since 2014. On top of that, we achieved last year’s sales target of 80,000 units despite the challenges in 2023. These remarkable achievements are attributable to the introductions of the WR-V, City and All-New CR-V, all of which garnered strong market acceptance upon their respective launches,” said Mr. Yoshimura.
![6th Generation Honda CR-V [2024]](https://www.motaauto.com/wp-content/uploads/2024/01/6th-Generation-Honda-CR-V-2024-13-1024x695.jpg)
For 2024, Honda Malaysia aims to further emphasise its e:HEV hybrid powertrain technology in the market. “The incorporation of this 2-motor hybrid system in Honda models provides a range of exciting options to meet the evolving customer demands. It is one the most practical and relevant technologies,” he said, adding that its popularity is evidenced by a 28% contribution to the 2023 overall hybrid sales in Malaysia.
Moving forward, the company has planned a multitude of business activities to increase its sales momentum, including enhancing prospecting activities, expanding collaborative sales campaigns, and promoting the benefits of its comprehensive automotive Insurance plan – Honda Insurance Plus (HiP).
In addition, Honda Malaysia will continue emphasising its HondaTouch application that provides added convenience for customers to access vehicle service information, vehicle assistance, and updates right at their fingertips.
Expanding used car business network
To tap the growing demand in the used car market, Honda Malaysia is expanding the Honda Certified Used Car (HCUC) network to 32 sales hubs nationwide. The HCUC business was introduced in February 2022 and the vehicles offered are less than 5 years old with not more than 100,000 kms of mileage. They undergo a 288-point inspection before being certified and come with an additional 1-year warranty on top of the existing warranty that is still valid.
To know more about Honda models and services in Malaysia and where to get a test-drive the vehicles, visit www.honda.com.my.
Honda is No.1 again in non-Malaysian brand passenger car segment
