It seems that things are going well for one the country's most prominent motorcycle manufacturers and distributors. Honda Philippines Incorporated (HPI) recently celebrated a huge milestone: its five millionth motorcycle manufactured in the country. The celebration took place at the HPI factory in Tanauan City, Batangas.
Among the Honda officials and stakeholders in attendance were Toshiyuki Shimabara, operating officer in charge of motorcycle production and operations for Honda Motor Company, and Daiki Mihara, president of HPI. A special edition red XRM 125, the brand's most popular model since it first came out in 2002, commemorated the occassion as the five millionth unit.
HPI first began production in 1973 at its original factory in Paranaque. The manufacturer reached the one million unit mark in 2005, and quickly rose up to 2, 3, and 4 million units in 2008, 2011, and 2014, respectively. Now, HPI is producing over 500,000 units per year spread out across nine models.
This massive production rate is good news for Filipinos. According to the ASEAN Automotive Federation, the Philippines is the fastest growing motorcycle market in the region. As of July, there has been an increase of over 40% in local motorcycle sales compared to last year. Our economic and buying power has increased in recent years, and HPI is making an effort to keep up with the demand.
The five-million milestone also brings the manufacturer one step closer to its 2025 vision of becoming "A leading Philippine company driven by Filipinos, serving the joy of mobility for every Filipino family.” With HPI currently the market leader in the Philippine motorcycle market, it seems already well on its way toward its goal.