New Delhi: Japan's Honda Motor Co said on Tuesday it would begin selling a new compact car in India in 2011 as it seeks a foothold in the fast-growing segment.
The 5-seater family car will be based on the "Honda New Small Concept", unveiled at the Delhi Auto Expo on Tuesday, and is being developed especially for India and other emerging markets, the company said.
Japan's No 2 automaker said it would aim to offer the model at an "affordable" price by leveraging its global parts sourcing network.
"Honda will strive to introduce a small car with a competitive price in the entry level of the hatchback segment," said Honda's executive Vice-president Koichi Kondo.
Kondo added that the company will further increase local procurement in India to price the car attractively for Indian customers.
Japanese rivals Toyota Motor Corp and Nissan Motor Co are also planning their own entry-level cars in India, with production scheduled to begin this year.
The low-cost, compact car segment is seen as crucial to expanding in emerging car markets, with global automakers such as Volkswagen AG and General Motors also seeking entry.
Honda markets itself as a premium brand in India, where it is minor player with sales of just 58,285 cars in January-November of last year, giving it a market share of 2.9 per cent.
VolkswagenPolo sedan
Volkswagen, Europe's largest carmaker, will launch its Polo sedan model in India in the second half of 2010, Neeraj Garg, a member of its board, said on Tuesday.
Earlier, the company said it would launch its Polo hatchback model in March.
Harley-Davidson
US motorcycle maker Harley-Davidson will launch 12 models in India this year, the company said in a statement on Tuesday.
Comments
0 comment