R-34
01-28-2004, 09:07 PM
Japanese automaker Honda Motor Co.
will start selling a 1.3-liter-class subcompact in the United States as early as this year to fend off its South Korean rivals, a news report said. The model will be based on the Fit, which is highly popular in Japan, the Nihon Keizai Shimbun said, without citing sources. The company expects annual sales of 50,000, the Nihon Keizai said. Priced at around 10,000 dollars for the lowest-end model, the vehicle will be cheaper than Honda Civic which is priced between 13,000 dollars and 20,000 dollars for models with 1,300-2,000 cubic centimeter engines, the Nihon Keizai said. Honda is considering exporting the subcompact vehicles from Japan, the newspaper said. The company, however, may produce the vehicles in Brazil if the dollar continues to trade below 110 yen and makes exports from Japan less profitable or even loss making, the Nihon Keizai said.
Honda and other Japanese automakers have long dominated the subcompact market but are now facing stiff competition from Hyundai Motor of South Korea the Nihon Keizai said. The South Korean automaker's market share in the United States grew from 1.8 percent in 1998 to 5.7 percent in 2003, the Nihon Keizai said.
story.news.yahoo.com
will start selling a 1.3-liter-class subcompact in the United States as early as this year to fend off its South Korean rivals, a news report said. The model will be based on the Fit, which is highly popular in Japan, the Nihon Keizai Shimbun said, without citing sources. The company expects annual sales of 50,000, the Nihon Keizai said. Priced at around 10,000 dollars for the lowest-end model, the vehicle will be cheaper than Honda Civic which is priced between 13,000 dollars and 20,000 dollars for models with 1,300-2,000 cubic centimeter engines, the Nihon Keizai said. Honda is considering exporting the subcompact vehicles from Japan, the newspaper said. The company, however, may produce the vehicles in Brazil if the dollar continues to trade below 110 yen and makes exports from Japan less profitable or even loss making, the Nihon Keizai said.
Honda and other Japanese automakers have long dominated the subcompact market but are now facing stiff competition from Hyundai Motor of South Korea the Nihon Keizai said. The South Korean automaker's market share in the United States grew from 1.8 percent in 1998 to 5.7 percent in 2003, the Nihon Keizai said.
story.news.yahoo.com