Honda Malaysia 2024 Roadmap: 95k units sales target, two new launches, and more

KUALA LUMPUR: Honda Malaysia sold more than 80,000 units in 2023, surpassing its annual sales target and solidifying its position as the No.1 player in the Non-National Passenger Vehicle Segment for the tenth consecutive year. Building on this momentum, the company has set its sights on a bold sales target for the year 2024.

Honda Malaysia aims to sell 95,000 units this year, which represents a substantial 19% increase from the previous year. This target is accompanied by a goal to capture a 12.8% market share of the total industry volume (TIV) for the year.

The roadmap encompasses various aspects, including new product launches, sales campaigns, and sustainability efforts. These include - 

• Honda Malaysia will introduce two new models in 2024 catering to evolving consumer needs
• It aims to promote its e:HEV hybrid technology, which secured a 28% market share of overall hybrid sales in 2023
• Initiatives such as expanded sales campaigns, promotion of Honda Insurance Plus packages are also part of the roadmap
• The company will also expand the Honda Certified Used Car (HCUC) network to 32 sales hubs nationwide to provide customers with verified pre-owned vehicles and trade-in options
• It also aims to upgrade Honda Service Centres to One-Stop Centres for enhanced customer convenience and satisfaction

Mr. Hironobu Yoshimura, Managing Director and Chief Executive Officer of Honda Malaysia, expressed optimism about the potential of its business roadmap. He 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 Youshimura added.

Also read: Hydrogen-powered Honda CR-V debuts in the US; delivers 434 km driving range