Gasgoo.com (Shanghai March 22) - Guangqi Honda President Kanayama Hironori said that the joint venture was in the planning stages of introducing a new own brand, the Beijing Times reported today. The JV hopes for the brand to make its debut at this year's Guangzhou Auto Show to be held at the end of the year. Mr. Kanayama further stated that the new own brand's models would be sold via Guangqi Honda's sales network, adding that they were considering other sales channels.
Industry insiders believe that Guangqi Honda's steps in setting up an own brand before its competitors will give it an advantage in the industry. However, they added that Guangqi Honda was best marketing the own brand through their own sales network in order to minimize risk.
As to where the own brand's premiere vehicle would place among Guangqi Honda's current lineup, Mr. Kanayama did not offer a clear answer. However, he said that the vehicle would allow the joint venture to reach new customers, leading many to speculate that the new brand's models would complement the JV's City, Fit and Yaris.
Dongfeng Honda also recently announced plans to release a new own brand. Mr. Kanayama said that he hoped that both Honda JV's new own brands would help complement each other.
