Your Source for Up-To-Date News and Research on the Collision Repair Industry
click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email
SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor
Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide
Management/
Technical Info
Market Watch Rates
INSIGHT Inside this month's issue...
Feedback
Letter to the Editor
Monday July 15
Honda Motor Plans to Start Small-Car Production in China in 2004
Honda Motor Co . will set up a new plant in China jointly with local companies to make Honda-brand small cars to be sold in ex-Japan Asia and Europe.
At a midyear press conference, Honda Motor President Hiroyuki Yoshino said production at its second plant in China will likely start in 2004, with initial annual output of 50,000 units.
Detailing Honda's midterm global plan, the company's president said Japan 's second-largest car maker will take advantage of cost competitiveness in Asia by manufacturing products there and exporting them globally. The measure aims to cope with intensifying competition amid consolidation in the global auto industry.
Honda also aims to make 20,000 cars in the first year of operations at a Taiwan unit and set up a parts-making company in Indonesia, the president said.
The Indonesia unit, P.T. Honda Precision Parts Manufacturing (Indonesia), will be formed in August. Honda will invest eight billion yen ($68 million) in the firm and will hire 900 employees, the auto maker said.
The subsidiary, in which Honda will take a 95 percent stake, plans to start production of automatic transmissions and engine valves in the fall of 2003.
In the key market of North America, Honda said it will raise its annual vehicle production capacity from 1.22 million units to 1.4 million units in late 2004.
A new production line will be built at its Alabama plant, resulting in an output capacity increase of 150,000 units for vehicles and engines. The new line is scheduled to start operations in the spring of 2004.
The auto maker will also lift annual auto production capacity in Canada to 390,000 units in early 2003, Honda said.
©2002 Collision Repair Industry INSIGHT
All Rights Reserved
FEATURED
LINKS:
INSIGHT Supports the NABC!
Do You?
