Financial Daily from THE HINDU group of publications
Tuesday, Nov 22, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 22, 2005 |
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Corporate
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Outlook Honda may again hike production capacity after Civic launch Our Bureau
Bangalore , Nov. 21 HONDA SIEL, which recently expanded its production capacity, will go in for another round of expansion when the Civic is launched early next year. Honda Siel Cars India General Manager for Marketing, Mr Rajive Saharia, told Business Line that with the launch of the Civic, Honda may have to increase the capacity by another 10-15 per cent. "We have, however, not finalised any of the parameters so far," he said. Honda is also expected to start manufacturing engines and transmission at its plant here. Honda has set a target of producing 1 lakh cars every year by 2010. The current local content in Honda City cars is around 79 per cent. Honda recently expanded its capacity to 50,000 units from 30,000 units to accommodate the expected additional sale of its Honda City ZX, which will be launched on Tuesday. Honda invested around Rs 150 crore for the capacity expansion. Honda expects to sell about 17,000 units of the model this financial year. Between April and October this year, Honda sold 20,000 units of New Honda City. Its other model, Accord, expects to sell around 3,000 units during this financial year. Since its launch in January 1998, 1,23,000 Honda City have been sold. The new model is 80 mm longer and has a bigger boot. "Most of the modifications we made to the latest Honda City is because of the feedback we received from our Indian customers," Mr Saharia said.
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