Honda to Triple Sales in India by 2016
Sales to reach 5 million units a year
According to Japan’s Nikkei Business Daily, Honda plans to increase production of its Indian subsidiary Honda Motorcycle and Scooter India over the next five years.
The news follows last month’s announcement that Honda will sell its stake in Hero Honda which holds the largest share of the Indian motorcycle market with sales estimated at over 5 million units.
As expected, Honda will redirect resources from Hero Honda to HMSI. The wholly-owned subsidiary currently produces 1.55 million units a year out of its facility in Haryana, India. A second facility is set to open later this year in the Indian state Rajasthan with a planned production of 600,000 units for 2011. Nikkei reports a third plant is in the works for the state of Andhra Pradesh.