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Honda India to get new company name by Sept-end
Posted on 07 Sep 201221,669 Views7 Comments
After the end of the joint venture with the Shriram Group, Honda's India car business will get it's new company name by end of September, 2012
Japanese car maker Honda Motor Co will have a new identity for its car business in India by the end of this month following the break-up of its joint venture with Usha International of the Shriram Group.
Last month, the company had announced that it was buying out the Indian partner from their joint venture, Honda Siel Cars India Ltd, which was established in December 1995.
"We have applied for the name change just a week back and it usually takes two to three weeks time. By the end of this month, the name change should happen," HSCI Senior Vice President and Director Raman Kumar Sharma told.
Speaking on the sideline of the annual convention of Society of Indian Automobile Manufacturers (SIAM) here, Sharma said there would be no other structural change to the company.
"The Honda name will of course be there in the identity. We will continue to have two different companies for two wheeler business and car business," he said without disclosing the new name of the company that has been suggested to the Registrar of Companies.
Sources, however, said with the dropping of 'Siel', the company could have simply opted for Honda Cars India.
He said apart from the exit of Siddharth Shriram, who was the chairman of the company till the JV ended, the HSCI board would remain the same as there were no other directors from the Shriram group.
Honda Motor Company had acquired Usha International's entire 3.16 per cent stake in HSCI for Rs 180 crore.
Commenting on the new launches, HSCI Senior Vice President Sales and Marketing Jnaneswar Sen said an automatic version of hatchback Brio would be launched next month.
He said the company is expecting to improve its sales performance during the upcoming festive season.
In the April-August this fiscal, the company has sold 29,932 units against 19,433 units in the year-ago period, a jump of 54 per cent.
Sen said the company's Greater Noida plant that has an annual capacity of 1.2 lakh units, currently has 60-70 per cent utilisation.
When asked if the company will go for price hike due to rupee decline against the yen, he said: "We are studying whether to increase prices or not but we have not taken a decision yet."
On the export of components, he said: "We are looking to increase it by expanding the range of part and include some more engine parts."
The company is looking to export components worth over Rs 470 crore this year against last year's Rs 299 crore, he added.
Also Read: Usha sells stake in Honda Siel to Japanese partner
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Readers' opinions ( 7 )
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Varun
@suraj, i suggest u take a look at Skoda Rapid or the Hyundai Verna which are the segment kings in my opinion.
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Varun
Yea ..ground clearance is an issue with honda cars esp the civic. I know people who have lost their ability to judge if any object will graze the underside simply due to the fact that almost every big speedbreaker or pothole in the city or in rural areas will scrape the underside which is a traumatic experience..even city has the same problem though not to the extent of civic..
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Suraj
Guys...plz dont mess with the car name...I am planning to buy Honda city with in an year....which is my dream....try to reduce the cost of cars if possible as petrol prices are getting high and ppl r going for diesel cars....
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Nesfield Sangma
YES u are very correct. Forget about rural roads, even in city one cant drive honda without fear of grazing your underside. The ground clearance is way way too low. This is a major complaint which Honda is just neglecting and which has told on their balance sheets.
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Charak Patnaik
Ground clearance issues are a things of past for City. The New Honda City 2012 has improved ground clearance as well as stiffened suspension setup, making it very suitable for our bad Indian roads, without scrapping the belly.
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RAJANGAM
I do not know why Honda is not manufacturing their success model " Honda FIT " and other HYBRID cars in India where the cost of petrol is much higher when compared with other developed countries. They should arrange to manufacture their successful models of fuel efficient cars and save the money of middle class Indians. Further the ground clearance of Honda car is very less and I find it very difficult to drive the car in rural roads of Tamil Nadu where the height of the speed breaker is more. They should arrange raise the ground clearance of their cars and also take up the issue of height of the speed breakers with Government .
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sickseries
Fit = Asian Jazz.
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