Honda Malaysia (HM) has announced its sales target for 2018, which is 109,000 units. The on-form brand is also gunning for 18% market share on the back of estimated total industry volume (TIV) of 600,000 units this year. The Malaysian Automotive Association’s TIV estimate for this year is 590,000 units.
The 109k sales target is 9,000 units higher than the 100k target for 2017, which was exceeded – HM sold 109,511 vehicles last year. It was an all-time record for the brand in Malaysia and the first time sales breached the 100k mark. From the 2017 TIV of 576,635 units, Honda held a market share of 19% in 2017 (21.3% if counting passenger cars alone). Honda’s market share in Malaysia is the second highest in the world after Pakistan.
HM’s sales target has been rising sharply in the past few years – it was 76k in 2014, 85k in 2015, 90k in 2016 and 100k last year. Targets have been achieved every year, and HM describes this as “stable momentum for the past four years.”
All the brand’s CKD locally assembled models – City, Jazz, Civic, Accord, CR-V and BR-V – top their respective segments. Honda ended the year as the top non-national brand in the country, and number two overall, ahead of Proton and behind only Perodua.
The company will launch two new products this year, one of it being the Odyssey facelift.