Dongfeng Honda mulls launching own brand

Shanghai, April 28 (Gasgoo.com) Following Guangzhou Honda Automobile's move, Dongfeng Honda Automobile Co reportedly plans to launch its own brand vehicle as early as next year.

"We may follow in Guangzhou Honda's footsteps and launch a self brand under Dongfeng Honda some time in future," confirmed Atsuyoshi Hyogo, President of Honda Motor (China) Investment Corporation Ltd.

"We will commit ourselves to strengthening our R&D abilities, thus we may be able to launch our brand as early as next year," said Liu Yuhe, deputy general manager of the joint venture.

Currently Dongfeng Honda is capable of producing 620 units every day, above the designed capacity of 500 units, according to Liu.

Over the past three years, the joint venture has posted a more than 10 percent annual growth rate, said Liu, adding that the sales for this year are expected to reach 152,000 units, compared with 127,000 last year.

In the first quarter of this year, the joint venture automaker sold 41,000 vehicles in China, representing a 70 percent growth year on year.