Honda Motor aims to nearly double car sales in four years: CEO Takanobu Ito
Honda Motor Co aims to nearly double its global car sales to at least 6 million vehicles in four years, its chief executive officer said on Friday as the Japanese automaker tries to expand in emerging markets.
The Fit, or Jazz, subcompact car and its series, as well as the small car Brio will be at the core of the company's product lineup so that Honda can reach its sales target in the year ending March 2017, CEO Takanobu Ito said.
"This is quite a big figure for us and there were debates over whether we should make it public, but unless we set a goal and work to figure out how we can achieve it, our business operations won't be specific," he told a news conference.
"Our car business depends on the Fit series and I am confident that this is definitely a core product in any region in the world."
Honda aims to sell 3 million cars in Japan, the United States, Europe and other developed markets combined, up from about 2 million it sold in the year ended March, and double sales to 3 million cars in emerging markets including India and China.
The Fit series will start to go on sale in Japan in 2013 and then globally in the following two years. The B rio was introduced in Thailand and India last year.
The company will also aim to sell 25 million or more motorcycles globally in the year ending March 2017, the 59-year-old CEO said.
Earlier this week, Honda suspended operations at five car plants in China after violent anti-Japan protests erupted in the world's biggest auto market, with some protesters destroying Japanese cars and setting fire to dealerships.
All five Honda factories in China have resumed operations, but are not operating at full capacity as parts suppliers have also been impacted by the protests, Ito said.
Following the rise in tensions, a delay in Chinese customs procedures is possible and Honda is making preparations to make sure its business will not be affected, Ito added. Honda Motor aims to nearly double car sales in four years: CEO Takanobu Ito - The Economic Times