Honda to increase exports. Targets 3 lakh domestic sales

Honda is looking to substantially increase exports from India in the years to come. The Japanese carmaker exported automobile components worth Rs. 420 crores in 2013-14, 722 crores in 2014-15 and is now targeting Rs. 1,100 crores in the current fiscal. This will be achieved by adding more export destinations to its existing list.

Presently, Honda ships engine parts, forgings and transmissions, among others to Japan, Thailand, Malaysia, Indonesia, Philippines, Taiwan, Vietnam, UK, Brazil and Mexico. Soon US, China and Canada will be added to the list. These components are manufactured at its Tapukara plant in Rajasthan.

India is Honda's fourth largest market after US, China and Japan. The company is targeting a domestic sale of three lakh vehicles annually by 2017.

With the production capacity at the Tapukara facility being increased, the total production capacity will increase from 2.4 lakh to 3 lakh units per annum by mid 2016. This plant manufactures the Amaze, Jazz and City, while the Mobilio and Brio are rolled out of its Greater Noida facility.

Source: ETAuto