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    7267   JP3854600008

HONDA MOTOR CO., LTD.

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Honda Motor : to stop production at one of two India plants

12/23/2020 | 05:22am EDT
A Honda Mobilio car is pictured at the production line at a Honda plant in Greater Noida

NEW DELHI (Reuters) - Honda Motor Co has halted production at one of its two car manufacturing plants in India, the carmaker said on Wednesday, a country where sales of its vehicles have been under pressure from competitors.

The Japanese automaker has stopped producing cars at its plant in Greater Noida close to the capital of New Delhi and will move all production to its second facility in the western state of Rajasthan, the company said in a statement.

The company's local unit, Honda Cars India Ltd (HCIL), will produce all vehicles and components at its Tapukara plant in Rajasthan with immediate effect for all domestic sales and exports, it said.

"India is extremely important market in Honda's global strategy and HCIL is committed to bring its latest and advanced technology models including electrified vehicles in future," said Gaku Nakanishi, president and CEO, Honda Cars India.

The Tapukara plant has an installed capacity to produce 180,000 cars a year. Honda sold over 102,000 cars in India and exported nearly 4,000 vehicles in the last fiscal year ended March 31, 2020, industry data showed.

(Reporting by Aditi Shah, editing by Louise Heavens)

By Aditi Shah


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HONDA MOTOR CO., LTD. -3.19% 3338 End-of-day quote.16.00%
NAKANISHI INC. -2.32% 2482 End-of-day quote.9.58%
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Analyst Recommendations on HONDA MOTOR CO., LTD.
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Financials
Sales 2022 15 457 B 141 B 141 B
Net income 2022 708 B 6 466 M 6 466 M
Net Debt 2022 5 280 B 48 186 M 48 186 M
P/E ratio 2022 8,30x
Yield 2022 3,58%
Capitalization 5 764 B 52 757 M 52 602 M
EV / Sales 2022 0,71x
EV / Sales 2023 0,65x
Nbr of Employees 211 374
Free-Float 91,5%
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Number of Analysts 18
Last Close Price 3 338,00 JPY
Average target price 4 260,59 JPY
Spread / Average Target 27,6%
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Managers and Directors
Toshihiro Mibe President, CEO & Representative Director
Kohei Takeuchi Senior MD, Head-Finance & Administration
Toshiaki Mikoshiba Chairman & Head-External Affairs
Yusuke Hori Executive Officer & GM-Information Technology
Seiji Kuraishi COO, Representative Director, VP & GM-Automobile
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