Yuchengco-led car dealerships close starting today
A total of five dealerships under Japanese automakers Honda and Isuzu will close shop starting today (June 2).
This as the House of Investments Inc. (HoI) has informed the Philippine Stock Exchange (PSE) that it will shutter Honda Fairview, Honda Marikina, Honda Marcos Highway Honda Kalookan, as well as Isuzu Greenhills.
In a letter addressed to the PSE, Ma. Esperanza Joven, vice president for finance of the Yuchengco-led company explained the reason for the closure.
"In an effort to streamline the car dealership business operations of the House of Investments, the Company conducted a careful and thorough assessment of its business organization, dealerships and the needed manpower, machines and processes...
"Pursuant to such assessment, the Company has decided to implement such business measures that will ensure overall greater efficiency, particularly the closure of the following car dealerships effective 02 June, 2020 and the implementation of the redundancy program in connection with the same, " the letter added.
Based on its website, the YGC arm also controls Isuzu Manila, Leyte, and Commonwealth, as well as Honda Quezon Avenue, Manila, Honda Greenhills and a service center in Tandang Sora.
Despite the cutdown, Honda Cars Philippines Incorporated (HCPI) assured that it will continue to provide ample support to customers.
HCPI Vice President for Sales Atty. Louie Soriano said that the closure for the abovementioned dealerships under their badge will take effect June 30.
"Honda Cars Philippines, Inc. (HCPI) expresses its regrets as these dealerships have been valued partners in contributing to Honda’s local operations over the past number of years."
According to Soriano, "HCPI values its customers and remains committed in ensuring customer satisfaction. HCPI reassures the public that the existing dealerships in Metro Manila as well as nearby provinces will be able to sufficiently service customers that may be impacted by the closure of these dealerships and continue to provide both sales and aftersales service for customers in these areas.
"In addition, mobile service facilities will also be set up in strategic locations to address basic and more immediate customers’ assistance in the aforementioned affected areas," he said.
He also said that despite the closure, the local arm for the Japanese automaker still has 34 dealerships around the country, including two upcoming dealerships, which are scheduled to be operational soon.
"All these dealerships will continue to offer sales and aftersales services," he said.
As for the discrepancy on the date of closure, HCPI said that the days in between June 2 and 30 are for the transition phase.
Further, HCPI urges customers to contact the nearest dealership or their customer service personnel at (632) 8-857-7240 for any queries.