Japanese auto major Honda Siel Cars India (HSCI), which recently forayed into the intensely competitive small car segment with the Brio, has brought an old hand on deck to grow operations aggressively in the Indian market.
Unlike many business heads, Hironori Kanayama is surprisingly optimistic about the latent potential of the Indian market and predicts that a turnaround is imminent.
Global auto companies are investing huge money to build infrastructure in the country despite the slowdown.
The car will be based on the new Jazz.
The vehicle was launched in India in 2009 with a hefty price tag of over Rs 700,000 which was slashed by Rs 160,000 later.
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