Honda Targets Sales of 18 Million Cycles in 2010
May 18, 2006
Filed under Uncategorized
Takeo Fukui, President and Chief Executive Officer, Honda Motor Co., Ltd., said the manufacturer is targeting sales of 18 million motorcycles in 2010, but indicated that growth is largely dependent upon increases in Asia.
Fukui made the comments during a mid-year speech delivered to investors May 17. To reach its sales goal, he said, Honda is planning to expand motorcycle production capacity in India, the Philippines and Pakistan.
Hero Honda in India is planning to increase capacity of its existing line by 450,000 units as well as build a new plant with annual production capacity of 450,000 units. As a result, annual motorcycle production capacity in India will increase by an additional 900,000 units to a total of 5.2 million units by 2007.
In the Philippines and Pakistan, expansion plans already underway will bring the annual motorcycle production capacity to 14 million units by 2007 - an increase of 6 million units in three years compared to the 8 million unit capacity in 2004.