Archive for January, 2003
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Honda Pins Hopes On Accord — New Model Launch Next Fiscal
Honda pins hopes on Accord — New model launch next fiscal
Sudha Menon
PUNE, Jan. 20
HONDA Siel Cars India is all set to rejuvenate its business in the premium D segment of the domestic car market where its Accord model is positioned. The company is gearing up to launch the latest generation Honda Accord in India in the first quarter of the next financial year, top sources told Business Line on Monday.
Sources said the company is preparing to launch the seventh generation Honda Accord, launched in the US and Japan in September 2002. The new car will have completely new styling, interiors and better performance with a brand new 2.4-litre engine to replace the existing 2.3-litre engine.
It may be recalled that the company had chosen to power the Honda Accord, when it debuted, in India with a 2.3-litre engine from the Accord Wagon instead of the standard 2.2-litre one that powers the sedan elsewhere in the world.
The Honda Siel Manager (Marketing), Mr G. Sanjay, when contacted, said the company is planning to launch the new Honda Accord in India sometime in the first half of the next financial year and said details are still being worked out by the company. “We will be working out details of the projects to be taken up in the next financial year over the next two months and will freeze on future models and time schedules only then,” Mr Sanjay said, declining to give any further details.
Sources, meanwhile, said the company is betting on the new Honda Accord to boost its performance in the premium segment of the car business where its performance has not been up to expectations despite enjoying good awareness and brand image in the Indian car buyers’ mind. The car, which debuted in India in July 2001, has sold a total of 2,500 units, Mr Sanjay said replying to a specific query on cumulative sales.
The Honda Accord, incidentally, has been the largest selling car in its segment in the US market. Honda Siel Cars is a joint venture of Honda Motor Company with the Siddharth Shriram group, where the former holds 99 percent stake. The company, which has manufacturing facilities at Surajpur near Delhi, will bring in the Accord in completely knocked down form.
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