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Our Bureau

Unveils upgraded Accord; to cost Rs 38,000 more than earlier version

THE PRESIDENT & CEO of Honda Siel Cars India, Mr Masahiro Takedagawa, and the Vice-President & Director, Mr N.K. Goila, at the launch of the upgraded Honda Accord in the Capital on Tuesday. — Kamal Narang

New Delhi , Jan. 9

Honda Siel Cars India Ltd said on Tuesday that it had zeroed in on three States — Rajasthan, Tamil Nadu and Maharashtra — to set up its second production facility in the country with an investment of about Rs 2,000 crore.

"The location to set up our second manufacturing unit in India is still under discussion, though we have zeroed in on Tamil Nadu, Maharashtra and Rajasthan, as the possible destinations for the 500-600 acre facility," said Mr N.K. Goila, Vice-President and Director, Honda Siel Cars India Ltd. He further stated that operations in the new facility that would have an initial capacity of around 50,000 units per year, are expected to begin from 2009 onwards.

Higher production

"We are also planning to hike up the manufacturing capacity of our existing plant in Noida to about 1,00,000 units per year from the current 60,000 cars manufactured per year," Mr Goila said. He added that with the setting up of the new plant, overall production capacity in India would go up to around 2.5 lakh units per annum within the next eight years.

The company unveiled an upgraded version of the luxury sedan Accord on Tuesday. Available in three variants, the base version has been priced at Rs 14.92 lakh, while the top-end at Rs 17.32 (both ex-showroom Delhi), a premium of about Rs 38,000 over the price of the earlier Accord.

The company plans to sell around 70,000-75,000 units in 2007-08. It had clocked a turnover of Rs 3,000 crore last fiscal and expects to clock around Rs 5,000 crore in 2006-07.

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