Honda Motor said on Thursday that it had set up a company in Ukraine that would import and sell cars, power products and components to strengthen its sales network in the fast-growing market.

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According to Reuters, citing a statement by the automaker, Honda Ukraine LLC, based in Kiev, is scheduled to begin operations at the end of July.


Honda reportedly said it aimed to sell about 5,500 cars in Ukraine in 2007, compared with last year’s 2,200 units.


Supported by rapid economic growth, the country’s car market quadrupled to around 265,000 units in 2005 from 2000, and is forecast to reach 500,000 vehicles in 2010, Honda said, according to the news agency.

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