Latest Car News in India

Tuesday, February 28, 2012

By Manoj Kumawat

Honda targets to double-fold its sales during next fiscal

The Indian unit of the Japanese auto giant Honda Motors - Honda Siel Cars India Limited (HSCIL) – is planning to aggressively expand its Indian operations by registering steep surge in the sales and adding new models in its India portfolio. The company had recently stated that it aims to register a double fold growth in its annual sales in the forthcoming financial year 2012-13, as compared to the sales of current financial year.

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In the current fiscal, the company is expecting to close the year with a decline of 17 percent to 50,000 units. The company lost the production of as many as five months in the current fiscal due to massive earthquake and Tsunami in Japan in March 2011 and massive flood in Thailand in the last quarter. Moreover, the supply of critical components from the firm’s Thailand plant remained blocked till the January 2012. According to data released by the company it has lost about 32 percent of its production in the Indian market due to halted supplied following these natural calamities.

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However, the firm has now restarted the production operations at its Grater Noida plant with components sourced from its Japan and China based facilities. By the end of this financial year, the firm hopes to clear the huge backlog of deliveries of its cars like Honda City and Brio. Moreover, 100 percent capacity utilization has been aimed by the firm at its Grater Noida plant from the starting of next fiscal in April. The facility has a total production capacity of 1.2 lakh units per annum. Honda popular cars in India include Honda Brio, Honda City, Honda Civic and Honda Jazz.

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