Honda Motor to recycle rare earth metals in used parts
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Honda Eyes To Retool, Double Yearly Sales
Japanese car manufacturer Honda Motor Co has decided to double up sales in the Chinese market to around 1.2 million vehicles by the year 2015 via a prolonged local lineup and augmented production.
At a recent news conference, Honda Motor Co's China head Seiji Kuraishi declared that Honda will roll out over 10 novel and improved models to China from 2013 to 2015 to prop up sales increase.
Seiji Kuraishi mentioned that the firm will also build up cars particularly for China and augment purchases of components from local suppliers to lower cost.
Honda will disclose two concept cars projected for Chinese market in the forthcoming Beijing Auto Show, he added.
Without elaborating, Seiji also said that the car manufacturer is looking at building a local design facility.
Now, Honda has a JV in South China with Guangzhou Automobile Group with yearly yield of 480,000 units and another with Dongfeng Motor Corp in the central province of Hubei, which is capable of making 240,000 vehicles per year.
Honda stated that a new Dongfeng Honda facility will be functional by the month of July, which will have yearly yield of 100,000 units a year at first.
The number could climb to 240,000 units hinging upon market demand.
Its JV in Guangzhou will also lift up capacitance by appending a novel production line planned to start operation by 2014.
The latest proposal is witnessed as a indication that Honda will transform its policy in China, considered conservative by industry analysts, which resulted slower development than the total market over the last several years.
China's car market augmented speedily from 2009 to 2011, bringing unforeseen benefits to a lot of foreign car manufacturers.
"The company didn't expect the Chinese government to take strong stimulus measures to support the auto market, which then went into a golden period of development, " Kuraishi said.
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