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Honda to sell compact cars costing Rs 5 lakh in India by 2011 | Japan's Honda Motor Co declared on Tuesday that it would begin the sale of its new compact car in India in 2011 at a price less than Rs 5,00,000. Honda Motor Co's five-seater family car based on the 'Honda New Small Concept' will be unveiled at the Delhi
Auto Expo on Tuesday, and is being built with the prime motive of catering to
the needs of India and other emerging markets. Japan's No.2 automaker said it
would aim to offer the model at 'affordable' price, by leveraging its global parts
sourcing network. "That's our new small car concept...and we plan to launch it
in India in 2011," said Gyaneshwar Sen, General Manager, Marketing, Honda Siel,
a joint venture between Japan's Honda and India's Siel. Honda would price this
new car at less than Rs 5,00,000 ($10,823), said Honda Motor Co Executive Vice
President Koichi Kondo. Honda officials added that the company would further increase
local procurement in India to price the car attractively for Indian customers.
Japanese rivals Toyota Motor Corp and Nissan Motor Co are also planning their
own entry-level cars in India, with production scheduled to begin in 2010. |
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