Petaling Jaya, 14 March 2024 - Honda Malaysia (or the Company) today announced its 2024 business direction underpinned by a positive outlook, aiming to achieve this year's set sales target of 95,000 units with 12.8% market share. With its strategic plan for 2024, which includes launching two new models, the Company is ready to continue embracing the evolving automotive landscape and powering business momentum.
Honda Malaysia Managing Director and Chief Executive Officer Mr. Hironobu Yoshimura said, “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.”
“Further strengthening our presence in the market was the e:HEV technology, one the most practical and relevant technologies. Its popularity is evidenced by a 28% contribution to the 2023 overall hybrid sales in Malaysia, significantly propelling the growth of xEVs in the country. We would like to express our heartfelt gratitude to our customers, dealers and the Malaysian Government for their unwavering support and trust in the Honda brand,” Mr. Yoshimura continued.
For 2024, Honda Malaysia aims to further emphasise its e:HEV technology in the market. The incorporation of this two‑motor hybrid system into Honda models provides a range of exciting options to meet the evolving customer demands. It fulfills the needs of those who seek a car that integrates fuel efficiency with a new level of fun of driving.
Moving forward, the Company will bring on stream 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.
To cater to the growing demand in the used car market, Honda Malaysia is expanding the Honda Certified Used Car (HCUC) network to 32 sales hubs nationwide. This expansion provides customers an accessible and trustworthy platform to purchase verified, pre‑owned Honda cars or trade in their existing ones. A special campaign will be held at all 32 sales hubs from 16th March 2024 to 18th March 2024 to amplify awareness of this expansion. The campaign will feature various exciting activities and offer rebates worth up to RM1,000*1 for customers to enjoy.
On the after‑sales services front, Honda Malaysia remains committed to following through with the transformation and upgrades of Honda Service Centres to One‑Stop Centres to provide the utmost convenience to customers.
The 2024 strategic business direction laid out by Honda Malaysia enables the Company to maintain its commitment to delivering products, sales and after‑sales services of the highest quality for customers. With these plans in place, Honda Malaysia is confident in achieving this year's sales target and looks forward to making 2024 a thrilling year for both the company and the market.
*1 Terms and conditions apply
In 2024, Honda Malaysia continues to emphasise its e:HEV technology, seamlessly combining powerful hybrid performance with an excellent fuel efficiency.