Japanese carmaker Honda has stated that it is aiming to double its global sales to six million units a year within the next four years. The cars that are expected to help Honda reach this target are the Brio and Jazz, according to Honda's CEO Takanobu Ito.
Honda has set its eyes on the emerging markets to boost its sales. The Brio small car and the Jazz (Fit in international markets) are two of its best selling cars in India and they are expected to deliver a similar sales performance in other markets too.
Speaking to media persons in Tokyo today, Mr Takanobu Ito has stated that the six million sales target was quite a big figure and it would be a challenge to meet it. He added that the Jazz and the Brio will be in the core of Honda's business plans until the year 2017.
Honda is looking at developed markets such as Japan, United States and Europe to provide half its sales target of six million units. The rest 3 million sales should be gained in emerging markets including India and China.
Honda is set to launch a new Fit (Jazz)in Japan later next year. It will also launch the Brio in new markets after having launched it in India and Thailand.
Honda China Crisis
Honda's target of selling six million cars will be a difficult task considering the difficulties it is facing in China. All five Honda plants in China were closed after violent anti-Japan protests erupted. Although operations at the plants have resumed none of them or fully operational. China is the world's largest car market and Honda will not be able to reach its target by 2017 if it does it is not successful there.
Another important market for Honda is India. Recent months have been possibly the worst for the Japanese carmaker in India. Sales of its brio and Jazz have not been substantial while its once best selling sedan City is struggling against diesel powered competitors. Honda is yet to announce a diesel powered car for India. Any delay will hurt its chances of regaining lost market share.