Honda Guangzhou Firm Announces Production Plan for 2002

Home>>Business

Last updated at: (Beijing Time) Saturday, December 22, 2001

Honda Guangzhou Firm Announces Production Plan for 2002

Honda Automobile Co. Ltd. based in Guangzhou City, one of the major gates to the outside world in south China, will produce and market 55,000 cars and vansnext year.

Honda Automobile Co. Ltd. based in Guangzhou City, one of the major gates to the outside world in south China, will produce and market 55,000 cars and vansnext year.

The announcement was made at a recent news briefing by Koji Kadowaski, general manager of the Guangzhou-based Honda Company.

According to Kadowaski, his company's production plan for the year 2002 calls for making of 10,000 Odyssey vans, a new vehicle model with seven seats. All other cars produced will be Honda Accords.

The company will realize 13.21 billion yuan (about 1.59 billionU.S. dollars ) in sales earnings and will make 4.6 billion yuan (about 554 million U.S. dollars) in pre-tax profits, he said.

While stressing that prices for three types of Honda accord cars will remain unchanged, Kadowaski disclosed that his Guangzhoucompany would spend 1.16 billion yuan (about 140 million U.S. dollars) to upgrade workshops with a combined production capacity of 120,000 cars next year.

He predicted that this year his company would make 51,153 HondaAccord cars, and sell 51,000 of them, score 12.18 billion yuan (about 1.47 billion U.S. dollars) in sales earnings, and 4.5 billion yuan (about 542 million U.S. dollars) in pre-tax profits.

Honda Guangzhou Company has so far produced 92,589 Accord, and sold 92,266 cars since the company was launched in 1998.