Japanese car behemoth Honda is not keen to bring out a low-budget car.
In the time of economic turndown, many car giants have decided to bring out small low-priced cars to up their plunging sale records.
Though the car maker will focus in the Indian and Chinese markets for future growth, it will not enter the ultra low-cost car segment. Honda is presently working on a small car to keep up with the demands in these markets.
The Japanese car major is yet to declare when they will come out with its new product. Honda is presently busy studying the Indian small car segment so that its upcoming compact car is packaged to meet the requirement of Indian customers, Indian price-point while adhering to the Honda brand. The car, Honda revealed, would be smaller than current hatchback Jazz.
Currently, India and China are Honda’s top priority. China has emerged as a rare bright spot for Honda. It sold 50,600 cars in the country in October, up 42 per cent from a year earlier. Honda sold 34,430 cars between April and October in India, an increase of 38 per cent from a year earlier.
Honda’s Japan operations are expected to stay in red though demand has been brisk, helped by generous tax reductions and incentives on hybrids like the Insight.
Honda’s US sales spiked temporarily in August helped by the cash-for-clunkers programme, but the impact was short-lived and followed by a sharp slump in demand the following month.
In June, Honda launched the Jazz in India, the smallest car in its stable. The company makes and sells premium sedans Honda City, Civic and Accord in India.
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