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Honda to start operating factory in Argentina in 2011.

TOKYO, Nov. 9 Kyodo

Honda Motor Co. will start producing compact cars in Argentina during the first half of next year in a bid to boost sales in South America, officials of the company said Tuesday.

The second-largest Japanese automaker last year postponed the opening of the factory in Buenos Aires amid growing concerns that the financial crisis could drag down car sales in Latin America.

But the firm has decided to start turning out vehicles in Argentina as car sales in the region are recovering and will likely continue increasing down the road.

Honda plans to invest 16 billion yen, and the plant is expected to start with an annual capacity of 30,000 units.

The company, which has already set up a factory in Brazil, aims to export its cars to other countries in South America in the future.
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Publication:Japan Transportation Scan
Geographic Code:3ARGE
Date:Nov 15, 2010
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