Honda India eyes sales of 43000 cars in 2006
Honda Siel will expand production capacity at its Greater Noida plant to 50,000 cars by next month and is targeting sales of 43,000 units during this fiscal.Updated: Oct 13, 2005 19:36 IST
Honda Siel, the market leader in the sedan segment, will expand production capacity at its Greater Noida plant to 50,000 cars by next month and is targeting sales of 43,000 units during this fiscal.
The auto maker will also roll out its luxury sedan Civic next year.
"Our plant in Greater Noida is in the process of expansion from 30,000 units to 50,000 units and will be ready by early November. The capacity will be further enahanced to one lakh units by 2010," Honda Siel Cars India President and CEO Masahiro Takedagawa told reporters here.
He said the company had so far invested Rs 850 crores in the Indian market. "This expansion is included in that investment," he said, refusing to divulge details.
Honda Siel is looking at selling 43,000 cars in India during 2005-06. "Of this, 37,000 will be City sedans. We will also launch our luxury sedan Civic next year," Mr Takedagawa said after announcing the new line-up of City sedans under the brand name City ZX.
The company has discontinued its City range and upgraded it with the new City ZX, available in four variants, with prices ranging from Rs 6 71 lakh to Rs 7.99 lakh.
The new variants - EXi, GXi, CVT and VTEC - are currently under homologation and will be available from mid-November, he said.
Exi, GXi and CVT variants, priced at Rs 6.71 lakh, Rs 7.18 lakh and Rs 7.78 lakh (ex-showroom Delhi) respectively, come with advanced combustion system of the 1.5 litre Intelligent Dual and Sequential Ignition (iDSI) engine. City VTEC embodies a 1.5 litre VTEC (Variable Valve Timing and Life Electronic Control) engine.
"The City is one of the most successful car brands in the country. We have already exhausted all units of the car, much earlier than we had anticipated," Mr Takedgawa said.
The City competes with Ford Ikon, Hyundai Accent and Tata Indigo.
First Published: Oct 13, 2005 19:36 IST