| Guangzhou Honda Automobile,
Honda’s car production and sales joint venture in China, began production
of the Fit on 12 th September 12th. It will go on sale 22nd September.
By adding the 5-door Fit, to the existing economy car range of 1.3 litre
and 1.5 litre Fit saloon models, Guangzhou Honda says it will be better
able to meet the needs of the potentially large market of middle class
individual car buyers. To date, saloons have been the focus of the Chinese
car market. However, Guangzhou Honda wants to create a new trend by developing
the 5-door hatchback segment.
China is the fifth country to produce the Fit -- after Japan , Brazil
, Thailand , and Indonesia . Since it was first introduced a little more
than 3 years ago, cumulative sales of the Fit now exceed 850,000 units.
From January through August of 2004, the car passenger market in China
has grown to roughly 1.62 million units (+21% compared to the same period
in 2003). Sales at Guangzhou Honda have risen to approximately 117,000
units during this same period (+70.2%).
About Guangzhou Honda Automobile
Established: July 1998
Capital investment: US$139,940,000
Capitalisation ratio: 50% Honda Motor, 50% Guangzhou Auto Group
Corp.
Location: Guangzhou City , China
Employment: Approximately 4,300 associates
Start of Production: March 1999
Products: Accord 2.0L, 2.4L, 3.0L V6, Odyssey, Fit Saloon 1.3L,
1.5L, Fit 1.3L, 1.5L
Annual capacity: 240,000 units
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