Honda Holds onto Expansion in India
Earlier, the company was planning to set a new plant at Rajasthan with an investment of Rs 1000 Crore by 2009, but with the global recession, the expansion plan has put on hold.
According to a Honda official, "The company continues to work on shed and structures will be ready too, but the the equipment installation will not take place."
He also mentioned that the production capacity of the plant would also be brought down as a result of the economic pressure that the car market is undergoing.
Discussing the current situation, the company official said they are closely studying the market situation and in order to maintain the balance in the Indian car market, the company will adjust the monthly production volumes.
Sources:
Published by Carazoo.com
Carazoo.com is India's First and Only car Portal with Interactive Animations. Read reviews, news, articles, blog and other latest updates on Indian car industry. View profile
- Honda FCX Clarity vs. HybridsThe Honda hydrogen car, the Clarity FCX, is an instant hit with Americans counting their pennies at the gas pump. How long will we have to wait for our turn to purchase this car and is it really better than a hybrid....
- New Car Launches Cheer Up Indian Car MarketThe world was gloomy, the skies looked barren and earth saw fewer cheerful faces in new cars. This was the scene in the first part of year.
How Cash for Clunkers (CARS) is Going to Hurt the New Car MarketThe Cash For Clunkers program will produce 750,000 new car sales in 2009. Many of these sales are from people who would not have bought this year. Because of this program, the...
Cash for Clunkers and How it Could Have Applied to the Used Car MarketAs useful as Cash for Clunkers was for those who were able to make additional payments on a new vehicle, others would have preferred the troubled government program allowing a c...- Flat Growth for Indian Car Market This Fiscal YearAs the global economic slowdown does not show signs of recovery so far, as anywhere else in the world, it is getting affected in the balance sheets of Indian auto makers too. But Maruti Suzuki India reported positive...
- Honda Reports Record September Sales
- Small Car from Honda
- Review of the 2006 Honda Civic
- 1995 Honda Civic EX: JDM 'Dis!
- The Honda Fit is a Hit!
- Honda Civic: Stylish and Practical
- In India, Ford and Honda Are Most Dependable Brands