Honda Cars India Limited Description
Honda Cars India Limited was established in the year 1995 and has its headquarters in Greater Noida. The company manufactures and sells passenger cars. They also deals with the needs of their customers who want to exchange their existing cars with a new one. They offer car sales, services. The company operates as a subsidiary of Honda Motor Co Ltd and Usha International of Siddharth Shriram Group. Later, the company bought the latter's shares in the joint venture. Now the company is a 100% subsidiary of Honda and has renamed itself. It was formerly known as Honda Siel Cars India Ltd. The company's first manufacturing unit is at Greater Noida and has been operational since 1997. It was set up at an investment of more than 4.5 million INR initially. The plant is spread over 150 acres. The initial capacity of this plant was 30,000 car per annum, but it was later increased to 50,000 cars on a two shift basis. Now the capacity has been further increased to 100,000 units annually. This led to an increase in the covered area in the plant. They set up their second plant in Rajasthan. The present models that are currently being produced are: Honda City, Accord, Civic, Jazz, Brio, CR-V, Amaze, Mobilio, BR-V and WR-V. The company has 331 dealership outlets across 121 cities in about 20 states and 3 union territories of the country. They have sold 189,062 units during their 2014-2015 period against 1, 34,399 units during the same period a year ago. It recorded an increase of more than 44%. The Japanese carmaker, Honda, launched their new compact SUV on the Jazz platform called WRV in the year 2017. The company has ended their 2017 March revenue and it touched 16,870 crore, first profit of 360 crore profit after six years loss consecutively.