Honda: Philippines / Automobile plant closed in March: Honda Cars Philippines Inc. (HCPI)
Manila
March 10, 2020
Honda Motors / Honda Cars Philippines Inc. (HCPI)
On February 22, the company announced on its website that production of four-wheeled vehicles in the Philippines would end in March.
HCPI: Successor business
In the future, we will continue our automobile sales and after-sales business in the Philippines.
HCPI: History of closure
As of January 1, 2018, the Philippine government has increased automobile excise tax.
As a result, new vehicle sales in the industry as a whole fell 15.3% year-on-year.
HCPI also sold 23,294 new vehicles in 2018, a 27% decrease from the previous year.
HCPI: Company status
New vehicle sales in 2019 were 20,338 units, a 13% decrease from the previous year.
Currently about 650 employees,
Capital is 1.9 billion pesos (about 3.8 billion yen),
-JETRO
https://www.jetro.go.jp/biznews/2020/03/13874831435c251a.html
Honda | End of Automobile Production in Philippines