May 29, 2000
Honda Targets 21.3% Growth In Auto Sales By 2003
TOKYO (Nikkei)--Honda Motor Co. on Friday announced a business plan under which it aims by fiscal 2003 to increase its global automobile sales by 21.3%.
The company also said that over the same period it aims to increase its automobile sales to 3 million units, and it is projecting a 57.8% increase in motorcycle sales to 7 million units.
At the same time, Honda unveiled plans to introduce in 2001 a hybrid version of its Civic. The car will first be sold in Japan.
Company officials confirmed that they expect domestic sales to rise to 900,000 vehicles, an increase of 200,000 units. The bulk of the firm's new models will be sport utility vehicles.
Most of the targeted 150,000 unit increase in the U.S. market is expected to come from minivans and SUVs. Honda plans to add an additional model using minivan components produced in Canada.
(The Nikkei Industrial Daily Monday edition)