Honda to increase Chinese production

The Chinese joint venture of Japanese carmaker Honda, Guangzhou Honda, will invest Yn660m to increase annual capacity from 50,000 units to 120,000 units in spring 2003 and to 240,000 units by the spring of 2004, South China Morning Post said. The additional capacity will be used to make the Fit saloon, which will go on sale in China this summer. Honda hopes to sell 110,000 vehicles in China this year, 90,000 more than in 2002. To help it achieve this target, it will increase the number of dealers in the country from 130 to 200 by the end of the year.