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 introduces a 1.6 litre diesel engine for Euro Civic; upcoming Amaze to feature a toned down version
Honda Motor Company, the Japanese multinational automobile and motorcycle manufacturer, has unveiled a new 1.6 litre diesel engine for its Civic sedan retailed in auto markets of several European countries. The company's Research and Development (R&D) department has been working quite some time on its new 'Earth Dreams' diesel engine line up and the 1.6 litre i-DTEC power-mill is one of first to see commercial introduction.
Commenting on the latest development from company's stable, Tetsuya Miyake, Project Leader for the development of 1.6 litre i-DTEC diesel motor, said, “This is a new approach from the ground up. There were no benchmarks for us because those targets would have been too low. We were determined to establish a benchmark of our own that our competitors would have to follow.”
Honda Cars India Limited (HCIL), a subsidiary of Honda Motor Company, has already announced to introduce a Brio hatch based compact sedan called 'Amaze' in domestic market somewhere in the first half of next 2012-13 fiscal. In a recent statement, the Japanese car maker affirmed that Indian car enthusiasts will witness launch of Honda Amaze compact sedan in both petrol and diesel guises. Thus, the upcoming model from stables of Honda Cars India is going to be its first diesel powered product on domestic turf, which may open further avenues and enhance market reach for the company.
Reportedly, the newly disclosed Honda's 1.6 litre i-DTEC diesel fuelled powertrain churns out a decent power output close to 120 bhp and a 300 Nm torque delivery as well. The company has claimed that its latest diesel engine is one of the lightest in its class and comes equipped with a number of state-of-the-art features, such as turbochargers with a variable nozzle to minimise turbo lag. Honda engineers have done great lengths in reducing the amount of friction in the engine that comes in handy towards making it deliver more fuel efficient fuel consumption.
The yet-to-be launched Honda Amaze compact sedan is expected to feature a toned down version (1.5 litre) of the 1.6 litre diesel engine announced for Euro Civic model, while the car's petrol variant will see a 1.2 litre motor under-the-hood. However, Indian car enthusiasts are losing patience with the Japanese auto maker's ineptitude of introducing a decent diesel powered fleet, which has cost the company in losing out a major fraction of market share. Top industry experts have pointed out that unless Honda introduces decent diesel variants of its products; its growth prospects appear meek in the country.
The upcoming Honda Amaze is expected to be offered to the Indian car lovers within a price bracket between Rs. 5.5 lacs and Rs. 8 lacs. The much hyped and Honda's first diesel model will be pitched against the likes of Maruti Suzuki Swift DZire and Tata Motors' Manza, upon its launch on domestic turf.