Gasgoo.com (Shanghai April 27) - President of Honda Ito Takanobu said an interview today with jfdaily.com that he is optimistic about his company's prospects in China. The statement comes as Honda comes out in full force at Auto Shanghai 2011, with the Insight and CR-Z, as well as hybrid and pure electric versions of the Honda Fit, among its offerings.
Having recently suffered the impact of the massive 8.9 magnitude earthquake in Japan last month, Mr. Ito (pictured) said that Honda was still had some autopart supply issues, most crucial of which were microprocessor chips. Honda alongside fellow Japanese automobile makers Toyota and Nissan have brought up the idea of jointly aiding computer chip companies in order to alleviate supply problems.
In spite of current supply hardships, Mr. Ito is still fairly optimistic when asked about his expectations for the Chinese market. He said that he believes that, due to decreased demand from wealthier customers, that the market will probably not encounter positive growth this year. However, he added, there are still plenty of consumers who are still looking for a new car, so there is still a lot of areas for the market to develop.
In order to capitalize on this potential market, Honda will be investing more into its Chinese ventures, Mr. Ito stated. He revealed that Honda had already begun doing R&D work in Beijing and Guangzhou in the hopes to see what sort of models the general public would like to see from the Japanese manufacturer. Mr. Ito said that Honda would offer more economically-priced vehicles for Chinese consumers to select from.
