July 20 2005.
Honda Motor Co. is targeting sales of 4.0 million vehicles a year worldwide by the end of March 2008, up from 3.24 million vehicles it sold last fiscal year.
The auto maker is also aiming to expand annual global motorcycle sales to 16 million units by the end of March 2008, up from 10.5 million last fiscal year, said Honda Motor President and Chief Executive Takeo Fukui at a mid-year press conference.
With these expansion targets, the company is aiming for annual sales of more than Y10 trillion by the end of March 2008, up from Y8.65 trillion last fiscal year.
On its global output plans, Fukui said Honda will start selling its compact Fit model in North America in 2006.
In addition, the company will invest Y4 billion to double its engine production capacity in Thailand to 300,000 units a year by next spring.
Honda also said it will start producing its Civic compact model in India next year.
Turning to foreign exchange matters, Honda's Fukui said he doesn't expect any major impact on the company's business from any revaluation of China's currency.

Source: Nikkei Net