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India To Be Honda Car Components' Export Hub
Japanese carmaker Honda is planning to make India its export hub for its car components. Also, Honda is looking to enhance overseas shipping of global models produced in India.
During the financial year 2014-15, Honda exported auto components worth INR 722 crore. For this year, the automaker is looking to increase that by 50 percent to INR 1,100 crore by exporting it to more countries like US, China and Canada.
Honda's revenue with its auto component exports has seen a steady rise over the years. In 2013-14, Honda had a turnover of INR 420 crore.
Honda exports different engine parts, transmissions and other components to countries like Japan, Thailand, Malaysia, Indonesia, Philippines, Taiwan, Vietnam, UK, Brazil and Mexico. Parts will be exported to US, China and Canada soon.
Katsushi Inoue, the President and CEO of Honda cars India said Honda's expectations from India are very high. There is a huge potential ahead. Currently it's the fourth biggest market for us after the US, China and Japan."
