Valsad: Honda Motor Company's Indian subsidiary Honda Siel is planning to widen its product portfolio in the country.
The year 2003 will see the launch of Honda Civic, the three-box Fit and the CR-V sports utility vehicle. Expected to be priced in the Rs 10-12 lakh range, the Civic will be powered by a 1590-cc petrol engine and 1686-cc diesel engine.
The company is also considering launching the new seventh-generation Accord next year.
Powered by a 160-bhp 2,354-cc petrol engine, the new Accord is likely to priced at Rs 18-19 lakh. Though the company is not forthcoming about the India launch, market sources expect it to come by mid-''03.
Apart from these, the other car likely to be launched by the end of next year is the three-box Fit. To be priced at Rs 6-7 lakh, the Fit will come with options of 1.3 litre and 1.5 litre engines. The CR-V sports utility vehicle, likely to be priced at Rs 20-22 lakh, will be powered by a two-litre engine, with 150 bhp and a torque of 19.5 kgm.
Recently Honda launched a completely revamped model of the City. Close to Civic in styling, the new City, which went on sale late last month in Thailand, could take on newcomers in the C segment like Toyota Corolla if launched here, say industry experts.
Honda Siel sales rose 27 per cent from 5,001 units in the first half of last financial year to 6,361 units in the first quarter this year. Honda Siel says it will make a net profit within the next three years and will wipe out its accumulated losses of Rs 125 crore by financial year 2006.
Honda Siel has broken even and has been making cash profits since '00-01. The company started operations in 1997.