Honda plans to double global sales to 6 million in five years

Article by Anita Panait, on September 22, 2012

Honda Motor Co. aims to double its worldwide vehicle sales to 6 million in five years, as demand for small cars like the carmaker’s Fit/Jazz subcompact continues to rise in emerging markets including China and India. In five years, Honda plans to increase its vehicle sales in Japan, the United States, Europe and other developed markets, to 3 million from about 2 million for the year ended March 31, 2012, according to chief executive Takanobu Ito.

The Japanese carmaker also plans to double its sales in emerging markets like India and China to 3 million units in five years. For the fiscal year ended March 31, 2012, Honda sold 3.1 million vehicles around the world. Spearheading Honda’s charge to achieve that sales goal will be its Fit/Jazz subcompact car and its derivatives, as well as the Brio small car, Ito disclosed.

During a news conference, Honda’s CEO admitted that the target number is “quite a big figure” for the carmaker, adding that there were debates over whether the company should make it public. He remarked that unless the carmaker set a goal and work to figure out how they can achieve it, Honda’s business operations “won't be specific.”

Ito said that for Honda to achieve sales of 6 million units, the Fit will be very important and will be the leader in volume sales. Ito also has high hopes for the Brio compact, which it expects would post the highest volume sales next to the Fit.

Honda will also market the Brio in emerging markets. Honda is building new plants in Mexico and Japan to produce the Fit and its derivatives. The carmaker will commence production at its Yorii plant in Japan in July 2013 and at its Mexican plant in spring 2014.

Topics: honda, sales

If you liked the article, share on:

Comments

Recommended

You probably heard about Ford’s CEO Mark Fields’ departure from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by...
by - May 28, 2017
A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries