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Thursday, December 21, 2006

Honda Motor to produce small car

Honda Motor Company today said it would introduce a small-size vehicle in India and construct a second automobile plant with an aim to produce and sell more than 150,000 units of automobiles in India by the end of 2010.

Mr Takeo Fukui, President & CEO, Honda Motor Company, in his year-end address in Tokyo today, announced a series of initiatives and expansion plans for Honda operations in Japan and across the world.

With reference to the Indian automobile operations, Mr Fukui also said, ''Annual automobile production capacity in India will be doubled to 100,000 units by the end of 2007'', said a Honda press release. The expansion to 100,000 units at Honda Siel Cars India's Greater Noida plant has already begun and is progressing as per schedule.

In his speech he said, Honda would further accelerate its effort to strengthen the core characteristics that make Honda unique in each business area in order to continue creating new value and providing products and services which are beyond customers' expectations.

Dwelling on Honda's estimated worldwide sales for the year 2006, he said, Honda globally expects to achieve all-time record sales in all three product areas. Motorcycles at 12.7 million units (up 3 per cent from 2005), while Automobiles at 3.55 million units (up 5 per cent from 2005) and Power Products at 6.4 million units (up 15 per cent from 2005).

Asia region's -- excluding Japan & China operations -- 2006 automobile sales forecast was 320,000 units (up 4 per cent from 2005, an all-time record for the 4th consecutive year) Asia's 2007 automobile sales plan: 360,000 units (up 13 per cent from 2006). For the motorcycle business, Honda expanded motorcycle production capacity in India, the Philippines and Pakistan in 2006, and also announced further capacity expansion in India and Vietnam in 2007, the release said.

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