Honda Siel Cars India Ltd (HSIL) on Wednesday said that the small car project in India is on track and is likely to be rolled out in couple of years according to schedule.
The general global economic slowdown and tough times for the automotive sector will not dampen the current plan to launch a small car from India, also for other markets, Mr Tatsuya Natsume, Director-Marketing, HSIL, said.
Speaking to newspersons here today, Mr Natsume said that this car will be much smaller than the premium hatchback Jazz rolled out earlier this week. “However, we are not in a position to comment on its specifications, positioning or price.”
Capacity
The company now has a manufacturing capacity of about one lakh cars an annum and last year, sold about 55,000 cars, which was lower than a year before as the old City was discontinued to pave way for new one.
“We expect sales volumes to go up by double digits this year, backed by lower interest rates, rebounding economic trends and growing consumer confidence. In March alone, Honda sold an all-time high 8,900 cars,” he said.
The company plans to also step up its exports to other markets in the region using the idle capacity in the Indian plants.
These would be to Nepal, Bangladesh and Sri Lanka etc, he said.
Source : Business Line