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Guangzhou Honda Company to Produce More Cars
Guangzhou Honda Company will produce and market more than 50,000 cars next year, with the output value exceeding 14 billion yuan and pre-tax profits surpassing five billion yuan.
The company's output of sedan cars this year will be 32,000. The output value will be around nine billion yuan and pre-tax profit four billion yuan, according to a corporate executive at a news briefing recently.
Guangzhou Honda cars were placed first in terms of penetration rate on China's sedan car market by late November.
The Chinese and Japanese investors in the Guangzhou Honda Company, a Sino-Japanese auto joint venture, have signed contracts to introduce Japanese Honda technology to produce two new types of sedan car in 2001 and 2002. In 2003, the joint venture will produce the seventh generation Honda cars simultaneously with other Honda Motors Co. production factories around the world.
Although production output and the marketing volume will go up next year, the joint venture has not considered adjusting car prices for the time being, said the corporate executive.
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