Honda lifts 2007 Europe sales forecast

FRANKFURT - Honda Motor Co expects to sell 370,000 cars in Europe this year, up 20 percent from 2006 and above a previous forecast of 350,000 units, the head of its European operations said on Tuesday.

By (Reuters)

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Published: Tue 11 Sep 2007, 5:24 PM

Last updated: Sat 4 Apr 2015, 11:38 PM

‘We may even get close to 390,000 units,’ Honda Motor Europe President Shigeru Takagi said in an interview at the Frankfurt International Motor Show.

Honda’s sales in Europe climbed 23 percent to 194,600 vehicles in the first half of 2007, with sales in Russia soaring 220 percent to 13,610 units.

Takagi said demand remained robust for the new Civic launched last year and the CR-V crossover rolled out in January, supported by an increase in supply with completed and planned capacity expansion at its factories in Britain and Turkey, as well as an export-only plant in China.

‘We’re still a small player in Europe with a market share of about 2 percent, but we’re looking to lift that to 3-4 percent,’ he said, without specifying a timeframe.

Takagi said Honda specifically wanted to beef up sales of hybrid cars through its smaller models, with an aim of building the powertrain into a major alternative in Europe. A small hybrid sports car, on display at Honda’s stand at the auto show starting this week, was one possibility for expanding its hybrid line-up, Takagi said.

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