Honda wants to develop another world car for growth

Honda wants to develop another world car for growth

Honda Motor Chief Executive Officer Takeo Fukui has said in a statement that they are aiming to develop yet another world car for growth in the near future.

The company currently relies upon many low-volume models fulfilling the needs of specific markets around the world.

Honda is likely to overtake Nissan this year to become the second largest automaker in their domestic market of Japan.

The company keeps a smaller lineup of cars when compared to rivals like Toyota and Nissan.

Honda currently believes that their cars Civic, Honda, Fit and CR-V are the true world cars in its portfolio. These cars on their own accounted for 60 per cent of its total sales combined last year.

Fukui told Reuters in an interview: “If we had one more global model, we should see stepped-up growth. That’s the next step for us.”

This car could be the next-generation, low-cost hybrid car Honda is developing for a planned 2009 launch.