Honda targets sales of 3.4 mln vehicles by 2004/05

TOKYO, July 10 Reuters reported that Japan's second-biggest carmaker, Honda Motor Co Ltd (Tokyo:7267.T - News), said on Wednesday it aimed for sales of 3.4 million automobiles by 2004/05, a rise of about 700,000 from the business year that ended in March.

It also aims for sales of 11 million motorcycles by that date, a rise of five million, it said in a mid-term business plan for the next three years.

Other main points of the plan include building a small car plant in China with Chinese partners in the year starting next April, with production starting in 2004. It will have a capacity of 50,00 cars a year.

Honda also said in a statement that its Taiwan unit would begin production by the end of the year and would make about 20,000 vehicles in its first year. It was not immediately clear if the start date referred to the end of the calendar year or the company's business year to next March.