REUTERS - Honda Motor Co<7267.T> will reorganize its car business in India, scaling down its lineup of sedans and focusing on compact vehicles, the Nikkei reported.
Honda, which recently converted its India joint venture, Honda Siel Cars India Ltd, into a wholly owned unit, plans to postpone sales of the new version of its Civic sedan, and forgo manufacturing the new version of the Accord sedan in the country, the business daily said.
The Japanese car manufacturer may discontinue the Accord vehicle altogether in India, the paper said.
Honda's India sales, which fell 20 percent in 2011, have jumped 70 percent in January-July, helped by the newly launched Brio subcompact, the Nikkei said.
Car sales in India rose 6.7 percent in July but were below industry estimates as higher interest rates and a hike in excise taxes stunted demand.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app