|Manila, June 11, 2003 --- Honda Philippines, Inc. (hereafter referred to as HPI), Honda's
subsidiary in the Philippines responsible for the manufacture and sale of motorcycles and the
sale of power products, held a ceremony commemorating the 30th anniversary of the
manufacture and sale of motorcycles in that country.
In May 1973, Honda and Mariwasa Distributors, Inc. entered into a joint venture and
established Mariwasa Honda, Inc. to commence production of motorcycles. In December
1983, Honda established HPI to succeed Mariwasa Honda, Inc.'s business and as of the end of
April 2003, it had reached a cumulative production and sales total of approximately 680,000
With increasing numbers of personal users, the motorcycle market in the Philippines
expanded to 260,000 units in 2002, an increase of 22% over the previous year. In 2003, this
figure is expected to grow another 20%. HPI posted record sales of 85,000 units in 2002, an
increase of 30.1% compared with the previous year. This was achieved mainly thanks to
robust sales of the Asian specific Cub-style models, the Wave / Wave125, business type long
sellers including the TMX155/125, and the XRM110 for personal use.
In 2003, through sales of 30th anniversary limited edition models, including those of the
TMX155 and XRM110, HPI is aiming to further expand sales, with a target of 150,000 units.
XRM110/30th Anniversary Limited Edition Model
History of Honda's motorcycle business in the Philippines
||Mariwasa Honda, Inc. established, motorcycle production
||Honda Riding Academy established, the first motorcycle
riding school in the Philippines.
||Honda Philippines, Inc. established
||Cumulative motorcycle production reaches 100,000 units.
||Cumulative motorcycle production reaches 300,000 units.
||Cumulative motorcycle production reaches 500,000 units.
Outline of Honda Philippines, Inc.
|Start of operations:
|Location of head office:
||Manila metropolitan area
||Honda Motor Co., Ltd. 99.55%
||Yasuhiro Oyama, President
||Manufacture and sale of motorcycles; sale of power products
|Number of employees:
||Approx. 520 (as of the end of December 2002)
||Seven models/Wave , Wave125, TMX125/155,XRM110,
XR200 and Dream125