Honda 2008 Annual Report Download - page 30
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Rendering of second automobile plant in Thailand
Acura dealer in China
Along with these initiatives to enhance the appeal of Honda products, Honda is taking steps
to expand its marketing network, especially in the fast-growing Russian market, and has set a goal
of having approximately 70 dealers in operation within a few years.
In the production area, to respond to the expansion in sales of diesel engines in the European
region, Honda will expand diesel engine production from Japan to Europe step by step and further
localize its European operations.
Honda is aiming for a 20.2% increase in annual sales in Europe in fiscal 2009, to 470,000
units.
In Asia, the Chinese market is expected to experience further growth, and many observers
are looking for the total automobile market (passenger vehicles + commercial vehicles) to exceed
10 million units in calendar 2008. In other parts of Asia, especially the countries of Southeast Asia,
market expansion is expected to continue. In these markets, Honda will focus on the Civic and
CR-V that are experiencing favorable sales performances, while also endeavoring to increase the
appeal of its products and increase sales through full model changes on core models, such as
the new Accord, introduced in Asia from the end of 2007, and new Jazz, to be introduced during
2008 to 2009.
To respond to the market expansion in India, Honda is aiming to continue to expand its sales
network to 160 dealers over the next three years. Similarly, in China, Guangzhou Honda and
Dongfeng Honda, affiliate companies accounted for under the equity method, are expanding their
sales networks. At the same time, the Acura brand marketing network is being expanded along
with activities to build the brand. In the Chinese market as a whole, the goal is to have a network
of 700 dealers in total for the Honda and Acura brands by the end of 2008.
In the production area, to meet growing demand in Southeast Asia, Honda is scheduled to
start production at a new plant in Thailand in the latter half of 2008.
In fiscal 2009, Honda’s target for unit sales in the Asian region as a whole is 920,000 units, an
increase of 21.9%.
In Other Regions, Honda is expecting further market expansion, as economic conditions re-
main favorable in Brazil, Australia and countries of the Middle East. In addition to
continued favorable sales of the Civic and CR-V models, Honda is expecting
an additional sales increase of the new Accord. As a result, Honda is aiming
for growth in the unit sales in Other Regions in fiscal 2009 of 14.6% over the
previous fiscal year, to 360,000 units. On the production side, to respond to
strong demand in Brazil, Honda is working to expand annual produc-
tion capacity of its Brazilian plant from 100,000 units to 120,000
units by August 2008.
VCM engine
Automobile Business
Annual Report 2008
28