Tue, December 21, 2010
Honda Motor's plan to boost its Chinese sales and production lifted its shares Monday, while a mainland joint venture announced a new brand to be launched in 2011.
Japan's No. 2 is targeting 10 percent growth in China sales to 730,000 vehicles next year, with output rising to nearly 900,000 cars by 2013.
Honda operates two joint ventures in China and produces a subcompact model in the country for export to Europe.
One of Honda's joint ventures said at the Guangzhou auto show Monday it would begin selling its proprietary Everus brand in the first half of next year.
Honda says it plans to sell up to 50,000 Everus vehicles in 2011.
The automaker plans to make hybrids in China, after selling only about 300 imported cars last year in the country.
(Reuters)
