Honda Cars India, the wholly owned subsidiary of the Japanese automobile manufacturer Honda has posted a loss of Rs 604 crore in the year 2012. The loss reported by the Japanese carmaker is higher than its loss for the year 2011 by three times.
According to industry experts, the most apparent reason for the losses is the non-availability of a diesel car model in its India car portfolio. Moreover, the frequent increases in petrol price as well as the sluggishness in the Indian car market has furthered lowered the overall sales of the automaker.
In response to the low sales and with the expectation of significantly boosting its sales in India, Honda Cars India is planning to launch a diesel car model for the diesel car buyers in the market. The new car model will be a sedan called Brio Amaze based on the small car Brio and is expected to hit the Indian roads by April 2013.