Honda President and CEO Takeo Fukui Announces India Plans

July 20, 2005 Japan

Honda Motor Company Ltd. President and CEO, Mr. Takeo Fukui, announced the company’s 3-year mid-term plan for its worldwide operations in Japan today.

Under the automobile segment, talking specifically about India, Mr. Fukui stated that the company plans to increase its production capacity from the current 30,000 units to 50,000 by the end of this year, and further expanded 100,000 units by 2010.

In addition to meeting the growing demands of its popular models- City and Accord, the increased capacity of the plant would also accommodate the startup of local production of the new Civic, within the next year. Talking about Civic, Mr. Fukui said, “The all-new Civic, developed under our approach of creating products to meet the needs of local customers, is a true global car with sales of more than 600,000 units annually in 160 countries in the world and with production in six regions.”

He further added, “While introducing advanced powertrain production technologies in Asia, Honda will pursue high quality worldwide and utilize its flexible, complementary global supply network.”

Honda is one of the most successful automobile brands in India. Each of its current models is performing extremely well and the company is working towards further consolidating its leadership in the respective segments. After firmly establishing itself as the number one player in the premium passenger car segment, Honda is now aiming to become the best automobile brand in the country.