Honda raises 2003 KL sales target

Honda raises 2003 KL sales target

KUALA LUMPUR: Japanese automaker Honda said on Wednesday it
has raised its sales target in Malaysia this year to 18,000
units, up by half from the earlier 12,000 forecast, driven by
strong demand for new models and competitive pricing.

But Honda officials ruled out any sharp reduction in car
prices when Malaysia liberalizes its auto market in 2005 under
the Association of Southeast Asian Nations (ASEAN) Free Trade
Area (AFTA).

Honda Malaysia managing director Seiki Kuraishi said the sales
target was raised following strong demand for its new 'City'
model, which received some 10,000 bookings since it was launched
in April despite a five-month wait.

He said the recent Severe Acute Respiratory Syndrome (SARS)
outbreak in the region has had no impact on sales, which were
expected to be further boosted by Wednesday's launch of an
improved 'Civic' version and another model to be introduced at
the year-end.

Kuraishi said the company expected to sell 4,000 units of the
improved Civic in a year, with the car competitively priced at
around 110,000 ringgit (US$28,947) to challenge the Toyota Altis
and Nissan Sentra models.--AFP