Big hike in starting price of next gen 2024 Honda CR-V - 2.0L variant to end, est. from circa RM 170k
Hans · May 18, 2023 10:42 AM
0
0
The current fifth generation Honda CR-V sells for between RM 146,900 to RM 171,400. Two engines are available – a 2.0-litre naturally aspirated i-VTEC and a 1.5-litre VTEC Turbo. This model is already in its final legs and an all-new 2024 model is expected to be launched in Malaysia before the year ends, However, don’t expect the current model’s sub-RM 150k starting price to remain.
The all-new 2024 Honda CR-V has already been launched in Thailand earlier in March. Historically, there is a circa 6 months gap between a new Honda model’s regional launch in Thailand and its local launch in Malaysia.
The 6 months lead time is necessary for parts localization, trial production at Honda Malaysia’s Pegoh plant, and obtaining the necessary government approval for reduced excise tax, with locally assembled (CKD) cars are entitled to based on the value of local parts purchased.
We expect the all-new sixth generation 2024 Honda CR-V to launch in Malaysia in the final quarter of 2023.
Globally, the sixth generation Honda CR-V is only available in two engine options – the 1.5-litre VTEC Turbo carried over from the outgoing model, and a new 2.0-litre two-motor full-hybrid shared with the Civic e:HEV RS.
The super-reliable naturally aspirated R20A 2.0-litre i-VTEC is no more, as it no longer meets exhaust emission standards in many parts of the world. Coupled with Honda’s goal of increasing the sales mix of electrified powertrains globally, the aging but proven 2.0-litre engine must go.
What this means is that the starting price of the 2024 Honda CR-V will inevitably go up.
Outgoing generation CR-V will be the last to sell below RM 150k
Look at the prices of the outgoing CR-V’s variants below:
2.0L 2WD: RM 146,900
1.5L TC-P 2WD: RM 165,800
1.5L TC-P 2WD Black Edition: RM 170,400
1.5L TC-P 4WD: RM 171,400
If the base 2.0-litre naturally aspirated engine was no more, the CR-V’s starting price would’ve increased by nearly RM 19k!
The entry variant's 2.0L naturally aspirated i-VTEC will bow out by the end of this year
Thus, expect prices of the new 2024 Honda CR-V, without the R20A engine, to start from circa RM 170k.
The 2.0-litre e:HEV hybrid engine, if it does make it here, would easily bring prices to circa RM 190k. For reference, there is a RM 16k gap in prices of a Civic 1.5L VTEC Turbo and Civic 2.0L e:HEV hybrid.
Also, Malaysia doesn’t have any preferential treatment for hybrids, at least not anymore, unlike Thailand.
Without a base 2.0L CR-V variant, the goal post is now open for the Mazda CX-5 - a new facelift model is due at around the time the new gen CR-V is launched
This higher starting price would put the 2024 Honda CR-V at a serious disadvantage against the Mazda CX-5, which starts at just RM 139,069 for the base 2.0G 2WD Mid variant.
But don’t for one moment think that Honda Malaysia has dropped the ball. The brand didn’t outsell Toyota passenger cars (Hilux and Hiace are commercial vehicles) for no reason. It knows what it is doing.
Prices of the CR-V have also been creeping up in many other countries, and this is something that local Honda offices will have to figure out.
The reality is that the CR-V has reached a point where it has become too much of a USA-focused SUV, too big and too expensive for our market but USA is also the CR-V’s biggest market, so certain business decisions will have to be made.
With the cheap 2.0-litre naturally aspirated engine no more, the 2024 Honda CR-V will leave a very big, circa RM 30k to RM 40k gap with the smaller Honda HR-V.
In Japan, the CR-V has become too big and too expensive, and has been replaced by the ZR-V
A new model is certainly in the plans. Honda Malaysia hasn’t said much, but we suspect that the Honda ZR-V will be introduced here to plug this big gap between the HR-V and CR-V.
Over 15 years of experience in automotive, from product planning, to market research, to print and digital media. Garages a 6-cylinder manual RWD but buses to work.
