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Honda's three-year plan aims for 25% sales boost

Discussion in 'Auto News' started by AE102, Jul 24, 2005.

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    AE102 New Member

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    Honda's three-year plan aims for 25% sales boost

    By YURI KAGEYAMA
    Associated Press
    7/24/2005

    TOKYO - Honda aims to boost its annual vehicle sales by nearly 25 percent over the next three years to 4 million vehicles, President Takeo Fukui said last week, outlining the Japanese automaker ambitious global growth strategy.
    Honda Motor Co., Japan's No. 3 automaker in units sold, expects to increase annual sales by 16 percent by the fiscal year that ends March 2008 to $89 billion, Fukui said.

    In the year that ended in March, Honda sold 3.24 million vehicles for total revenues of $77 billion.

    Like other Japanese automakers, Honda's business is booming - in sharp contrast to American rivals General Motors Corp. and Ford Motor Co., which have lost market share in the United States to Asian automakers.

    The divergent fortunes of the two country's auto industries has prompted concerns here of a backlash from American consumers.

    But Fukui said Honda won't be taking the same approach as rival Toyota, which has raised prices on U.S. models in an apparent attempt to give a competitive edge to the faltering U.S. car companies. Toyota has also said it's in talks on a deal to work together with GM on an ecological technology called fuel cell vehicles, and the two companies have cooperative ties and run a plant together in California.

    "We can't do anything absurd like offering a helping hand to GM and Ford when they aren't even asking for help," Fukui told reporters at Tokyo headquarters.

    He scoffed at the huge incentives some automakers have offered to woo buyers.

    "We don't decide on pricing with other companies in mind," Fukui said.

    Under the three-year plan, Honda hopes to become the No. 1 automaker in mileage and promises to reduce emissions on its new engines. Honda will also work on hybrids, which switch between a gasoline engine and electric motor, as well as fuel-cell vehicles and other alternative fuels, Fukui said.

    Honda - which earns more of its profits overseas than in Japan - also aims to raise sales and production around the world. In North America, a key region for Honda's profits, the company will introduce the subcompact Fit next year.

    In Asia, Honda is opening a new plant in Vietnam, increasing production in Indonesia and India, and investing $35 million in Thailand to double engine production capacity by next year.

    Honda will start making the remodeled Civic in China next year, Fukui said. The new Civic is one of the centerpieces of Honda's strategy as a global car adapted by region that features the latest fuel-efficient engine.

    Honda's profit rose 27 percent to $840 million in the January-March quarter compared to the same quarter a year ago, as surging sales offset the strong yen, which erodes overseas earnings.

    http://www.buffalonews.com/editorial/20050724/1040612.asp
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    01rollas New Member

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    i love honda but the 98-02 V6 accords suck

    or at least the tranny's do. my mom's accord is on its fourth tranny!
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    UKO Jon

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    Let the toyota-honda battle begin. JDM world domination.
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    01rollas New Member

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    its been happening for a while already its just gonna get heated up

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