Honda Motor Company, the Japanese multinational auto maker, has set a target to increase its global vehicle sales by two folds at 6 million units by March 2017. During a press conference in Tokyo on September 21, 2012, Honda's Chief Operating Officer (CEO), Takanobu Ito revealed that the company is aiming to expand its global reach by venturing into high potential emerging markets in the Asia region.
According to Takanobu, the company is planning to bring its premium hatchback Jazz of the 'Fit' series and small car Brio at the core of its product line-up, in order to reach the estimated sales target by March 2017.
Underlining the company's global sales projection for the upcoming four years, Takanobu said, “This is quite a big figure for us and there were debates over whether we should make it public, but unless we set a goal and work to figure out how we can achieve it, our business operations won't be specific. Our car business depends on the Fit series and I am confident that this is definitely a core product in any region in the world.”
Reportedly, the Japanese auto giant is working towards achieving vehicle sales at 3 million units in the auto markets of Japan, United States, European nations and other developed markets, which recorded sales of 2 million Honda vehicles during the last fiscal. The company is also aiming to increase its annual sales by two folds in the emerging passenger vehicle markets of India and china.
It has been revealed that the Honda Fit series will commence its marketing operations in its home turf Japan from 2013 and then will reach the global markets within two years. The company launched its compact Brio hatch in two Asian markets comprising India and Thailand in 2011.
Further, the 59-year-old Takanobu affirmed that the company is estimating global annual sales of its motorcycle division to reach 25 million units by the month of March 2017.
Recently, the Japanese company discontinued its manufacturing operations at five Chinese car manufacturing factories, after ugly anti-Japanese protests engulfed the world's largest automotive market. The agitation became violent and hostile, as some hecklers began arson by setting Japanese dealerships and cars on fire. However, all five Honda car plants based in China have commenced operations but are not performing at optimum production output.
