The country's largest two-wheeler maker Hero Honda on Tuesday said its erstwhile Japanese promoter Honda Motor Co has exited the company completely after selling its 26 per cent stake to a group firm of the Indian promoter family.
The company said it will use the vendor base of its two-wheeler business in India to make the car price competitive.
Honda Motor Corporation of Japan plans to synergise Indian and Thailand operations to capitalise on the free trade agreement between the two countries and will continue investing in India, a top company official said on Friday.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
Global auto companies are investing huge money to build infrastructure in the country despite the slowdown.
They are recalling a total of about 3.4 million vehicles worldwide as a result of an airbag problem.
The investment will allow the plant, which currently builds car parts, to produce full vehicles.
Rising fuel costs and a fast growing middle class makes India a potential market for microcars.
Apart from considering a sports utility vehicle on its premium hatchback Jazz platform, using the same 1.5 litre engine that will power the entry level sedan Amaze, R&D officials of the company said they are also working on smaller diesel engines keeping in mind the Indian market.
The model will be equipped with a petrol engine in Thailand.
A total of 15,623 Brios and 15,603 Amaze cars will be recalled
While petrol starts at Rs 499,000 and goes up to Rs 760,000, the diesel variant is priced between Rs 599,000 and Rs 760,000.
Japanese auto major Honda Motor Co will commence exporting bikes by next year from India, a country which it sees as a future global hub, particularly for mass market models.
Japanese auto giant Honda on Thursday said it will set up a third two-wheeler manufacturing facility in India at Narsapuram, in Karnataka, with an installed annual capacity of 12 lakh units by 2013.
Honda manufactures cars at a facility in Greater Noida in Uttar Pradesh.
Announcement comes following a production cut by Honda Motor at its plants in Japan following a shortage of components due to the impact of the Tsunami on its parts suppliers.
According to media reports, while Honda is planning to sell 20 per cent stake to the other promoter, Munjal family of the Hero Group, it is looking at selling 6 per cent to private equity firm KKR.
The company is looking at buying steel and electrical components from Indian suppliers for the car to be cost competitive, Honda Motor Co executive vice-president and representative director Koichi Kondo told reporters while unveiling the concept of new small car at the Auto Expo in New Delhi.
Struggling Super Aguri confirmed Japan's Takuma Sato and Britain's Anthony Davidson as their 2008 drivers on Tuesday after agreeing to a takeover of the Formula One team. Super Aguri, who finished ninth overall last season, arrive in Melbourne with minimal pre-season mileage under their belts after taking part in just one full test since December while focusing on securing their financial future.
Honda Motor Co is close to a deal on the sale of its Formula One motor racing team, Japan's biggest circulation newspaper said on Tuesday, without identifying the buyer.
Around 200 contract workers of two-wheeler manufacturer Honda Motorcycle and Scooter India, the fully owned subsidiary of Japan's Honda Motor Co, went on strike on Tuesday demanding regularisation of services.
Honda pulled out of Formula One with immediate effect on Friday, feeling the bite of the global recession in a major blow to a sport itself looking to cut costs to survive.
The group also said that the company's operations in India - Hero Honda Motors - would establish its third plant in 2006.
Japan's Honda Motor Co will introduce a premium hatchback in the Indian market in the next 2-3 years as it eyes sales of 1.5 lakh units by 2010, a senior company official said on Tuesday.
Japanese auto major Honda Motor Co on Wednesday said it would locally produce and sell the popular 'Civic' model in India next year and would ramp up overall production capacity to 1,00,000 units by 2010 from the current level of 30,000 units.
Japan's Honda Motor Co, the world's top motorcycle maker, said on Tuesday it will renew for 10 years a pact to supply technology to its Indian joint venture company Hero Honda when the current agreement expires in 2004.
India's largest motorcycle maker, Hero Honda Motors Ltd, launched its cheapest 100 cc motorbike yet on Wednesday, hoping to blunt competition from main rival Bajaj Auto Ltd.
India's largest motorcycle maker Hero Honda Motors Ltd said on Thursday it posted a net profit of Rs 581 crore (Rs 5.81 billion) for the year ended March 31.
22 million vehicles recalled in 2013: US safety agency
Hero Honda Motors, India's biggest motorcycle maker, on Wednesday said sales grew 31.5 per cent at 1,91,635 units in August 2004 over 1,45,730 units in the same month last year.
Hero Honda Motors Ltd on Wednesday reported a 20 per cent growth in net profit for the quarter ended June 2004 at Rs 190 crore against Rs 158 crore in the corresponding period last year, buoyed by a 33 per cent surge in motorcycle sales volume.
Briatore revealed that doctors had found the McLaren driver had no health problems other than the injury sustained in the accident. He claimed that he had seen video of the accident, which was not even that dramatic, insisting that the impact was not so hard.
Honda entered the diesel car segment with the Amaze and it became fastest in HCIL history since its inception in the Indian market to cross the milestone
Vehicles would be able to offer advice during challenging driving or parking situations, while also providing company to drivers on long, solitary trips
Modi is courting Japanese investment in an ambitious industrial "corridor" to run between Delhi and Mumbai.
Honda Cars India is recalling a total of 1,338 units of its premium sedan Accord and sports utility vehicle CR-V manufactured between 2002 and 2003 to replace a faulty part in the passenger side airbags. The recall, which is part of Honda's global recall regarding the potential defect related to passenger air bag announced in June 2014, would cover 1,085 units of Accord and 253 units of CR-V.
Ford Motor Co plans to triple exports from India.
High on features, high on price and performance, these eight superbikes scorched the Indian roads this year!
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