TOKYO - Honda Motor Co. last week unveiled an ambitious plan to raise its global vehicle sales by 26 percent in the next three years to 3.4 million units annually and to sharply boost output in North America and China.
The boost in North American production capacity announced separately last week will be the biggest single addition to Honda's volumes. But the plan also calls for Honda, which relies on North America for the bulk of its profits, to ramp up exports of vehicles and parts from its low-cost Asian bases outside Japan to markets in Europe and elsewhere.
While Honda's Japanese exports and production will remain unchanged, shipments between markets other than Japan will roughly triple, Honda CEO Hiroyuki Yoshino said at the company's annual mid-year media briefing here.
The added volumes, and the reduced role of Japan in Honda's operations, "take global expansion to a new level," Yoshino said.