Honda India launched its Jazz [Fit] small car in India today hoping for sales of around 20,000 in the first 12 months and to challenge the dominance of Suzuki which controls over half the new car market, CEO Masahiro Takedagawa said.
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It is assembling the Jazz at its factory near New Delhi alongside Civic and Accord models while importing the CR-V SUV. A second factory in India in the northern state of Rajasthan is being built.
Honda’s Indian car sales slumped 16% to 50,174 in the year ended 31 March, according to industry data. Market share declined to 4.1% from 4.9% a year earlier.
Small cars accounted for 73% of all cars sold in India in the last fiscal year, according to the Society of Indian Automobile Manufacturers.
The Jazz is priced from INR698,000 (US$14,800) in New Delhi, the automaker said.
Toyota plans to introduce a compact car in India by end of next year from a new factory it’s building in the southern Indian city of Bangalore, Sandeep Singh, deputy managing director of the automaker’s local unit, said.
Meanwhile, Fiat plans to introduce the Grande Punto on 17 June.
