Honda Cars Philippines Inc. (HCPI) is holding vehicle prices steady despite the weakening peso, as the company ramps up its push for hybrid models in the local market.
Newly appointed HCPI President Hidekazu Arai said the company is carefully tracking market trends and customer demand while advancing its electrified vehicle strategy in the Philippines.
“My top priority is to listen to the voices of customers, partners, and dealers,” Arai said. “The auto industry is changing rapidly, so we need to understand real local needs, roads, lifestyle, and expectations here.”
As part of a broader regional strategy, Honda plans to expand its hybrid lineup in the Philippines. “Globally, Honda is redistributing resources to Asian countries, including the Philippines,” Arai explained. “We look forward to introducing new hybrid models in the coming years.”
HCPI currently offers four hybrid vehicles locally, including the CR-V Hybrid, Civic Hybrid, and the recently launched Prelude.
Despite rising fuel costs and a weaker peso, Arai emphasized that Honda is not prioritizing price competition. “We don’t want to compete on price alone. We aim to enhance total value through customer service, parts availability, and after-sales support,” he said.
While pricing adjustments may occur depending on market conditions, HCPI has not raised any prices this month, even as imported vehicles remain a key part of its lineup.
Electrified vehicles are seeing rapid growth in the Philippine market, with hybrid models expected to expand faster than traditional internal combustion vehicles in the coming years, Arai noted.
