Honda plans to reach sales of 6 million units in the following four years, introducing cheap compact cars in emerging markets.
Some of the models on which the company relies for its 6 million target, are the Fit subcompact and the small car Brio. This kind of vehicles will help the automaker meet its 6m target by March 2017.
“This is quite a big figure for us and there were debates over whether we should make it public, but unless we set a goal and work to figure out how we can achieve it, our business operations won’t be specific,” said CEO Takanobu Ito.
He also added that the Fit series stands at the core of the automaker’s business and that he is confident that this model is suitable for any market in the world. Honda plans to sell 3 million units in the US, Japan, Europe and other developed markets, up from 2 million last year ended March, and other 3 million cars in emerging markets such as China and India.
This strategy was also adopted by Honda’s rivals, such as Nissan which is reviving its Datsun brand to boost sales in emerging markets, and Toyota which manufactures the Etios compacts in Brazil and India.