Honda Siel Cars India unveiled on Friday sports utility vehicle 'CR-V' as part of efforts to increase its topline by 50 per cent this fiscal.
HSCI has also been conducting surveys to guage what kind of compact car from Honda stable would be acceptable here, and would invest Rs 160 crore (Rs 1.6 billion) this year in tooling, HSCI president and chief executive officer H Yamada said in New Delhi.
The 'CR-V', which would be imported from Japan as completely built units, would be available in India by the end of July and sport a price tag of Rs 1.4-1.5 million (ex-showroom, Delhi), he said.
"We aim to sell 1,000-1,200 units of 'CR-V' in the first year as the vehicle will also be positioned as a low-end 'D' segment car," Yamada said.
The company targets a 50 per cent rise in turnover this year from a topline of Rs 760 crore (Rs 7.6 billion) during 2002-03 as HSCI would be strengthening its position in the premium car category, HSCI director (finance) Kohei Kaji said.
He said the Rs 160 crore (Rs 1.6 billion) investment for "tooling" would be met through internal accruals, adding "we are confident of 50 per cent rise in turnover as sales have been steadily growing".
"We are targeting an over 50 per cent rise in our sales to 20,000 units this year and planning to firm our grip in the premium car range through rolling out new vehicles," Yamada said.
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