- Jan 7, 2002
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TOKYO -- Honda aims to boost its annual vehicle sales by about 25 percent over the next three years to 4 million vehicles, President Takeo Fukui said Wednesday, outlining the Japanese automaker ambitious global growth strategy.
Honda Motor Co., the nation's No. 3 automaker in units sold, expects to increase annual sales by 16 percent by the fiscal year that ends March 2008 to 10 trillion yen, or $89 billion, he said in announcing a three-year business plan.
In the year that ended in March, Honda sold 3.24 million vehicles for total revenues of 8.65 trillion yen ($77 billion).
Like other Japanese automakers, Honda's business is booming -- in sharp contrast to American rivals General Motors Corp. and Ford Motor Co., which have lost market share in the United States to Asian automakers.
The divergent fortunes of the two country's auto industries has prompted concerns here of a backlash from American consumers.
But Fukui said Honda won't be taking the same approach as rival Toyota, which has raised prices on U.S. models in an apparent attempt to give a competitive edge to the faltering U.S. car companies. Toyota has also said it's in talks on a deal to work together with GM on an ecological technology called fuel cell vehicles, and the two companies have cooperative ties and run a plant together in California.
"We can't do anything absurd like offering a helping hand to GM and Ford when they aren't even asking for help," Fukui told reporters at Tokyo headquarters.
He acknowledged Honda has been raising prices but scoffed at the huge incentives, or discounts, some automakers have offered to woo buyers. http://www.detnews.com/2005/autosinsider/0507/20/01-254107.htm
Honda Motor Co., the nation's No. 3 automaker in units sold, expects to increase annual sales by 16 percent by the fiscal year that ends March 2008 to 10 trillion yen, or $89 billion, he said in announcing a three-year business plan.
In the year that ended in March, Honda sold 3.24 million vehicles for total revenues of 8.65 trillion yen ($77 billion).
Like other Japanese automakers, Honda's business is booming -- in sharp contrast to American rivals General Motors Corp. and Ford Motor Co., which have lost market share in the United States to Asian automakers.
The divergent fortunes of the two country's auto industries has prompted concerns here of a backlash from American consumers.
But Fukui said Honda won't be taking the same approach as rival Toyota, which has raised prices on U.S. models in an apparent attempt to give a competitive edge to the faltering U.S. car companies. Toyota has also said it's in talks on a deal to work together with GM on an ecological technology called fuel cell vehicles, and the two companies have cooperative ties and run a plant together in California.
"We can't do anything absurd like offering a helping hand to GM and Ford when they aren't even asking for help," Fukui told reporters at Tokyo headquarters.
He acknowledged Honda has been raising prices but scoffed at the huge incentives, or discounts, some automakers have offered to woo buyers. http://www.detnews.com/2005/autosinsider/0507/20/01-254107.htm
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