Update: Isuzu Philippines and AC Motors have both issued their own statements (6/5).

Four Honda Cars and one Isuzu dealership run by the Yuchengo-led House of Investments (HI) will close effective tomorrow, June 2, 2020 (Editor’s Note: June 30, according to Honda Cars Philippines’s official statement). The announcement was formalized in a disclosure made to the Philippine Stock Exchange (PSE) (see circular below).

The shock move will see Honda Cars Fairview, Honda Cars Marikina, Honda Cars Marcos Highway, Honda Cars Kalookan, and Isuzu Greenhills shut their doors after careful assessment of the House of Investment’s car business organization.

In their statement, the House of Investment will implement a redundancy program for all affected employees.

Updated: Here is the official statement from Honda Cars Philippines

In light of the closure of Honda’s four (4) dealerships in the northern part of Metro Manila namely Honda Cars Fairview, Honda Cars Marikina, Honda Cars Marcos Highway, and Honda Cars Kalookan effective June 30, 2020, 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.
 
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 after-sales 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.
 
Notwithstanding the closure, HCPI currently stands at thirty-four (34) dealerships nationwide, including two (2) upcoming dealerships which are scheduled to be operational soon. All these dealerships will continue to offer sales and after-sales services.  Customers are advised to reach out to any of the dealerships nearest them, or to HCPI customer service personnel at (+63 2) 8-857-7240 for any queries or clarifications.