Honda Motor Company, one of speedily pacing Japanese automakers in the global auto market, has announced its plans of launching diesel variants of its portfolio in the Indian car market. In India, the lack of diesel powered cars has curtailed its market share substantially giving an edge to its toughest contenders in one of the most competitive markets globally.
The country’s auto market has been dwindling with a series of constraints emerging in the form of mounting interest rates, rising fuel costs, depreciating value of rupee while adding another in the form of surging demand for diesel run cars proving it as a disadvantage for the Honda’s petrol only Indian range.
Mr. Takanobu Ito, Chief Executive Officer, Honda Motor Company, "In India, an all-new diesel engine will be adopted sequentially to new models starting in FY14 (fiscal year ending March 31, 2014)."
He further hinted the establishment of a dedicated diesel engine manufacturing plant, saying, "In addition to the high fuel efficiency, the cost competitiveness of the all-new diesel engine will be enhanced through local sourcing and local production to make new diesel models more affordable for customers."
Mr. Ito also affirmed that in its Asian auto market, the car maker will be launching a sedan and utility vehicle version built on the Brio platform in addition to introduction of the all new Honda Fit series.
The car maker is devising plans to alleviate the sales and volume growth in the Asian countries of India, Thailand, Malaysia and Indonesia by restructuring its mutually complementary structure in the region.
While speaking about the two-wheeler venture, Mr. Ito confirmed that stress will be laid on cementing its position in the 100 cc segment, known as the most demanded segment in India.
