However, Ito Takahiro, president of Honda Motor Co., Ltd., announced at a news conference that they will launch a lower-cost model than the existing JAZZ hatchback. It is reported that the initial sales price of the old JAZZ in New Delhi was 698,000 rubles (US$15,067.7). Ito said that this new JAZZ will gradually spread to the entire Asian market based on the Indian market. At the same time, the price of this car will also be within the consumer's price expectations. However, he did not disclose the specific time to market and possible price range. Because of the fancy Indian mini-car market, Tata Motors of India, while owning two luxury car brands, Jaguar and Land Rover, began to sell the cheapest car in the global market with an initial price of 115,000 roubles-Nano. The two major advantages of fuel economy and low cost make low-cost cars popular among consumers. Renault-Nissan, General Motors, and Hyundai Motor have all announced that they will start developing low-cost models and compete to share this seductive cake. Renault Nissan CEO Ghosn said on Tuesday (November 10) that the new mini-vehicle designed and manufactured by Indian motorcycle manufacturer Bajaj and marketed by Renault-Nissan will become the cheapest car in the Indian market, and will be listed in 2012. . The JAZZ hatchback is manufactured by Honda's local subsidiary. The company also handles the production of Sidi, Civic and Accord, and the import of cr-v SUVs. It is reported that from this month, the subsidiary will export engine parts to its parent company. Honda’s Indian subsidiary stated that the engine parts used to connect the connecting rod and crankshaft will be manufactured at Honda’s second plant in India. In July this year, the company announced that due to the shrinking domestic demand in India, they decided to postpone the start of the second plant to the end of 2011.
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According to the Wall Street Journal, Honda Motors said on Wednesday (November 11) that the company did not plan to produce low-cost mini-cars in India, although India’s Tata Motors and Renault and Nissan’s joint ventures in India have announced Its mini vehicle development plan in India.