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

Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 2017
The year 2018 marks the golden anniversary of Subaru of America. Of course, the company will celebrate 50 years of being at the helm of the brand’s crusade in North...
by - February 24, 2017
During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 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