[home][rumors and news][model release matrix][dealer network][desktop calendar][exhaust notes][tov forums][links][search][sponsors][garage][login]

Tire Rack Upgrade Garage
 Search for a Dealer:
 Canadian Flag US Flag
 Honda Acura
 ZIP  
Acura
There are currently no active Acura promotions
Honda
There are currently no active Honda promotions
Honda announces changes for 2019 Civic, including new Sport trim
More.......................
When is the 2019 Accord arriving in showrooms? Maybe not until 2019
More.......................
American Honda Reports July Sales Results
More.......................
Official statement from Honda concerning flooding of Celaya factory
More.......................
News from the dealer side: 2019 HR-V, Fit, and Insight production impacted due to flooding in Celaya
More.......................
2019 Honda HR-V updated with styling tweaks, Apple CarPlay/Android Auto, and available Honda Sensing
More.......................
2019 Acura MDX Arrives with Luxury and Performance Upgrades Plus First A-Spec Variant
More.......................
SPIED IN EUROPE! Civic Type R refresh
More.......................
Spy Shots --> Re: Honda Passport prototype caught in Los Angeles
Join Discussion......
General Talk --> Entrepreneurial Spirit
Join Discussion......
RDX --> Re: Sat in an Advance - Complaints
Join Discussion......
TLX --> Re: Extremely fitting
Join Discussion......
Professional Motorsports --> Re: Alonso Quits F1
Join Discussion......
General Talk --> Re: '08 Honda Leather
Join Discussion......
Fuel Cell Technology --> Re: The FB Clarity FCEV group is full of shit
Join Discussion......
General Talk --> Re: Accord 2.0 touring or TLX V6 Tech FWD
Join Discussion......
Strictly Technical --> Re: CEL problems
Join Discussion......
RLX --> Re: 2019 Acura RLX
Join Discussion......
Today's Reading Links --> Re: Alaska Airlines plane hijacked
Join Discussion......
General Talk --> Le CitroŽn Clarite FCDS
Join Discussion......
HR-V/Vezel --> Re: European HRV with 1.5 L VTEC Turbo engine coming Spring 2019
Join Discussion......
Today's Reading Links --> Boeing, Airbus, GE, & Aerospace Leaders Confirm Electric Flight
Join Discussion......
Ridgeline - General Talk --> Re: Ridgeline outlasts Taco in Death Valley Torture Test
Join Discussion......
Honda Announces the Establishment of Local Subsidiary in Russia
 Date: April 22, 2004 05:57
 Submitted by:  danielgr
 Source: Honda EU Press Release
 Credibility Rating: N/A


Honda Announces the Establishment of Local Subsidiary in Russia

April 22, 2004 -- Honda Motor Co., Ltd. announced today the establishment of a fully-owned subsidiary in Russia to strengthen its local motorcycle, automobile and power product sales operations in the rapidly expanding Russian market. The new subsidiary named, Honda Motor RUS LLC is located in Moscow and will be responsible for strengthening Hondaís sales operations as well as overseeing logistics, after-service, advertising and public relations functions.

The Russian automobile market has made a strong recovery since the economic crisis in 1998 reflected by growth in annual automobile sales from approximately 900,000 units in 2000 to 1.20 million units in 2003. Annual sales of imported automobiles quadrupled to over 190,000 units during this same period and are expected to continue expanding in the future. Elimination of the consumption tax, a reduction of VAT from 20% to 18% in January of this year as well as the anticipated participation of Russia in the WTO within the next few years, are expected to further contribute to economic growth in the region and to further expansion of the automobile market. Hondaís automobile sales target for 2004 is 4,800 units (+34% compared to 2003).

Company Outline

Company name:

Honda Motor RUS LLC

Registration:

February 18, 2004

Location:

Moscow

Total capital:

30 million rubles (approx. USD 1 million)

Investment ratio:

Honda Motor Co., Ltd. 100%

Number of employees:

30 (approx.)

Business activities:

Import, sales and after-service of motorcycles, automobiles and power products


Click Here to Submit Your Comments

Viewing Threshold (What is this?)

[fancy] [flat] [simple]
Your Feedback
Date Subject User
04-22-2004 21:54
S2K in Russia   (Score: 1, Normal)
TR
First Drive: 2019 Honda Insight
Read Article....................
2019 Honda Insight PR Photo Gallery
Read Article....................
First Drive: 2019 Acura RDX
Read Article....................
2019 Acura RDX Features & Specifications
Read Article....................
PR Photo Gallery - 2019 Acura RDX Advance
Read Article....................
PR Photo Gallery - 2019 Acura RDX A-Spec
Read Article....................
Contact TOV | Submit Your Article | Submit Your Link | Advertise | TOV Shop | Events | Our Sponsors | TOV Archives
Copyright © 2018 Velocitech Inc. All information contained herein remains the property of Velocitech Inc.
The Temple of VTEC is not affiliated with American Honda Motor Co., Inc. TOV Policies and Guidelines - Credits - Privacy Policy
29