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