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Honda Opening Fourth Motorcycle Factory in India

Honda announced plans to open its fourth motorcycle manufacturing plant in India, with a production capacity of 1.2 million units per year. Honda is investing 11 billion Indian rupees (US$175.8 million) into the new facility which it hopes will strengthen the position of its subsidiary Honda Motorcycle Scooter India Ltd. as the world’s second largest motorcycle producer while taking aim at the current leader, Hero MotoCorp.

Honda Reports Q1 2013-2014 Results

Honda reported sales of 4.05 million motorcycles over its first quarter ended June 30, 2013, a 3.7% increase from the 3.91 million motorcycles sold in the same period last year. The increase in motorcycle sales resulted in 396.8 billion yen (US$4.04 billion) in sales revenue, a 14.4% increase on 346.6 billion yen in revenue reported in the same quarter the previous fiscal year. Overall, Honda‘s reported a combined revenue of 2.83 trillion yen from all its operations, a 398.1 billion yen improvement from last year.

Hero Honda Rebranded as Hero MotoCorp

Honda’s former joint venture in India has officially rebranded itself as Hero MotoCorp, revealing the company’s new logo and signaling the beginning of a new era for India’s largest motorcycle manufacturer. Formerly known as Hero Honda, the joint venture claims a share of nearly half of India’s two-wheeled vehicle market. Honda decided in late 2010 to end its 27-year partnership with India’s Hero Motors, buying out its 26% share for $855 million, about half the market price at the time.