|Honda Commemorates 30 Years of Motorcycle Production and Sales in the Philippines|
|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 units.
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.
History of Honda's motorcycle business in the Philippines
Outline of Honda Philippines, Inc.