Honda SIEL launches new Accord variant

NEW DELHI, SEPT. 11. Honda Siel Cars India today launched a more updated variant of its luxury car Accord and said it would achieve the target of selling 2,500 units of the car this fiscal.

Christened 'Accord VTi-L', the car has been priced at Rs. 15.75 lakhs (ex-showroom Delhi) and Rs. 16.55 lakhs for the manual and automatic transmissions respectively, a premium of Rs. 80,000 over the earlier model, Honda Siel Cars president, Mr. T. Fujisaki, said at the launch here.

"We have sold more than 600 Accord cars since its launch two months ago. We are well on our way to achieve the target of 2,500 cars for 2001-02," Mr. Fujisaki said. He said the new version, launched after consumer feedback, would strengthen Honda's position in the emerging 'D' or luxury car segment.

South Korea's Hyundai and Germany's Mercedes Benz are the other two companies which have presence in the 'D' segment estimated to be about 5,000 units annually. Other car makers like Ford have also announced plans to launch luxury cars this fiscal.

"Right now, our market share in the newly launched 'D' segment is above 50 per cent. We expect the market to be stimulated and grow in the later part of the year with new launches," Honda Siel General Manager (marketing) Mr. Ananda Mohan Gupta, said.

Mr. Fujisaki said Honda Siel expected to export automobile components worth Rs. 2-3 crores this fiscal to countries such as Bangladesh and Sri Lanka.

On the Accord VTi-L, Mr. Gupta, said the new variant would have an all-leather interior and aluminium wheels besides a new black colour in addition to the existing three colours.

He said the company had secured an order for 22 automatic Accord VTi-L cars from the Oberoi group.

Honda Siel is 99 per cent owned by Japan's Honda Motor Company and one per cent stake is with Siel. The company also manufactures the mid-sized 'City' car at its plant near Delhi.

- PTI

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