(From Business Line)
Bangalore, July 19. CARMAKER Honda Siel has wiped out its accumulated losses worth Rs 70 crore even as it has ruled out any plans to launch a small car or the premium Civic passenger car in India.
Powered by excellent sales of New City and Accord, the company started making profits during the current year. A Honda Siel spokesperson told Business Line that the company expects its turnover to increase by nearly 40 per cent during the current year to around Rs 1,827 crore. But for 2005-06, the increase in turnover could drop to 10 per cent to around Rs 2,000 crore.
The spokesperson said that the launch of New City sedan and Honda …