The Hindu Business Line : Honda plans Civic launch next year — Will invest Rs 650 crore to raise capacity

HONDA Motor Co today said that it would start producing and sell the new Civic in India next year and ramp up overall production capacity to 1,00,000 units by 2010 from the current level of 30,000 units, for which it would be investing about Rs 650 crore.

Bullish on the company's prospects in India, the President and CEO, Mr Takeo Fukui, said that the company plans to hike capacity at its Greater Noida plant to 50,000 units by the end of this year.

In addition to meeting the growing demand for models like the City and the Accord, which it currently sells in the country through its subsidiary, Honda Siel Car India, the increased capacity would accommodate the start-up of local production of the Civic, the company said.

"The all-new Civic is a true global car with sales of more than 6,00,000 units annually in 160 countries in the world and with production in six regions," Mr Fukui said, while announcing the company's three-year mid-term plan for worldwide operations.

He added that Honda would also start producing the new Civic in China next year.

The company will offer an advanced powertrain line-up that includes various fuel options including gasoline, diesel, hybrid, CNG, and ethanol, to meet the unique needs of each region.

In India, the Civic would compete with the Toyota Corolla and the Hyundai Elantra, and is likely to be priced in the Rs 9-10 lakh range.

Honda Siel currently sells three models in the market - the City, the Accord, and the CR-V, a sports utility vehicle.

The Civic would occupy the gap between the City and the Accord in Honda Siel's portfolio.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Apollo Consulting to help build hospital in Poland

`Cancer drug, oral insulin programmes on track'

ICAI clarifies on accounting standards of unlisted arms of foreign cos

Tax protocol comes into effect on Aug 1 — Indian companies can access Singapore tech at lower cost

Shri Lakshmi Cotsyn to enter denim segment

`Control on corporates inevitable'

Audi plans to launch A4 model early next year

Honda plans Civic launch next year — Will invest Rs 650 crore to raise capacity

Britannia eyes new segments for growth

A. Ramasubramaniam appointed Ashok Leyland ED