Honda Siel Cars opens its first dealership in Agra

May 13, 2003 Agra

Honda Siel Cars India Ltd. (HSCI), one of the leading premium and luxury car manufacturers in the country, today powered its North India growth strategy by opening its first dealership in Agra, Uttar Pradesh. The new dealership, Heritage Honda, owned by the Goyals of Agra, was inaugurated today by Mr. H. Yamada, President and CEO of the company, in the presence of other senior officials of Honda Siel Cars and esteemed guests. Agra, a significant contributor to Uttar Pradesh’s economic growth, fits perfect in the company’s marketing strategy, to strengthen its presence in semi-urban towns and cities. The consumers of Agra, who were till now buying the Honda cars from the neighbouring cities will now be able to buy one of the country’s most premium cars in their own city. Being a 3S dealership (Sales, Service, Spares), the customers will also have access to Honda’s world-class service and quality spares through this outlet. With this addition, the company has increased the total number of dealerships in Uttar Pradesh to three. Enthused on the opening of the first dealership in Agra, Mr. H. Yamada, President and CEO, Honda Siel Cars India Ltd., said, “The opening of our first dealership in Agra is part of our overall strategy to strengthen our presence in smaller towns and cities, having established our brand in the metros and semi-metros. Agra is, perhaps, one of the most important cities in the state, both culturally and economically. Our effort will be to provide Honda’s world-class products and services to our current and potential customers in the city.” The company has registered a volume growth of 34 per cent in the state of Uttar Pradesh, during the last financial year. At the national level as well, Honda Siel Cars has performed extremely well, with a 22 per cent growth, during the last financial year. The company sold 13,300 units of its models, during the year, up from 10,920 units sold during the previous financial year (2002-03). The new City, with improved interiors and new colours, launched during the middle of last year, has received tremendous response from the consumers. The company’s expansion strategy to penetrate the smaller towns and cities has also positively effected the company’s sales, vindicating the company’s expansion strategy. The company has recently pioneered a new segment in the Indian automobile industry with the launch of Honda CR-V, which offers its customers a distinctive combination of ‘the comfort of a sedan with the thrills of a SUV’. Powered by a 2.0 litre, all-new i-VTEC engine and Honda’s exclusive real time 4-wheel drive, CR-V feels at ease in any driving condition. The CR-V exceeds the world’s toughest safety standards for frontal, offset, side and rear-end collisions as well as roll-over accidents. The vehicle would be available at all exclusive Honda dealerships, across the country, from July 2003 onwards, at an approximate price of Rs.15 lakh (ex-showroom Delhi). About Honda Siel Cars India Ltd. (HSCI): HSCI was established in December 1995, with Honda Motor Co., (Japan) and Siel Ltd. (India) being the key promoters. The company figures among the top players in the Indian premium and luxury car market. HSCI started commercial production in December 1997 with an indigenisation level of over 50%, which has been raised progressively and is currently over 72%. Honda Siel introduced the Honda City car, an extremely successful engineering marvel, in India in December 1997 and the New Honda City in November 1999. In August 2000, Honda Siel added to the line-up by introducing the Honda City VTEC. The internationally successful Honda Accord, was launched in July 2001. The recent launch of Honda CR-V has further expanded the company’s product range in India and marked its entry into a new segment.