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Honda Siel Cars India President and CEO Masahiro Takedagawa, in an interview with Business Standard, shares the company's India strategy, including the launch of hybrid technology (a first on Indian roads), small cars and outlook on diesel technology, an area where the company is losing ground to other auto majors. The company launched its 8th generation Accord today in Mumbai.
Honda lacks a diesel car in India, a market where more than 40 per cent of vehicles sold run on the fuel. Comment.
We are aware of the wide usage of diesel vehicles in India and the option is open. We are studying the diesel 2.4-litre 100 bhp engine and also the 3.5-litre V6 diesel in some of the overseas markets. These engines can only be used in larger cars. It will be still some time before we introduce diesel cars here.
You will be introducing a hybrid car, a first by any manufacturer in India, in the next couple of months. Do you really see a market for such an expensive vehicle?
Due to high import duties, the Civic Hybrid will be priced around Rs 25 lakh (Rs 2.5 million). We have not carried out any evaluation so far, which will determine who our buyers will be. However, we are optimistic about its demand from India. The car will be available at all the 80 dealers across the country.
How many small cars will you bring to India in the next few years?
At present, we are working on two new platforms which will be launched subsequently. The choice will be made between the new Jazz platform or a completely new platform to be launched in 2009. The other platform, which will be built to suit Indian needs, will be launched after four to five years.
How does India stack up against other emerging markets around the world?
We are not driven by sales numbers and are more interested in satisfying customer needs. We are the most profitable foreign company in India. We have been in India for a long time and, though just 65,000 units were sold last year out of the 4 million sold worldwide, it is still one of the fastest growing markets for us.
What steps did the company undertake to raise component sourcing from India?
We source our components from about 100 suppliers in India. We are looking to gain from the free trade agreement between India and other Asean countries. We can integrate our sourcing from the Asian countries through the FTA.
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