Guangzhou, February 28, 2005 --- Guangzhou Honda Automobile Co., Ltd., Honda's automobile production and sales joint venture in China, today held a line-off ceremony marking the start of production of the next generation Odyssey, which will go on sale nationwide in China, March 13. The annual sales target for the all-new Odyssey is 20,000 units. Guangzhou Honda also commemorated the cumulative production of 500,000 units since it began production in 1999.
The all-new Odyssey is based on the popular model introduced in Japan in October 2003, with some modifications in accordance with road and usage conditions in China. Since the previous generation Odyssey was first introduced in April 2002, Guangzhou Honda has offered a new value to customers in China combining a great driving experience with the utility of a minivan. This is the first full model change for Odyssey by Guangzhou Honda.
This next generation Odyssey was developed under the concept of "Minivan Innovation" -- focusing on three key areas; Fast - excellent driving comfort and handling achieved by lowering the center of gravity; Beautiful - a flowing and elegant form made possible by lower body height; and Spacious - increased interior height achieved by the lower floor. The all-new Odyssey was developed to establish a new benchmark for new generation minivans, integrating each of these three areas of innovations at a high level. The all-new Odyssey will propose a new style for those customers who are not satisfied with existing minivans or even with mid-to-high-end sedans. From commuting to leisure, it will appeal to all.
The price for the Odyssey EXI-S will be 254,800 R.M.B. Affordable pricing was achieved as a result of last year's expansion of annual production capacity to 240,000 units and also through Honda's cost reduction efforts, including increased local content.
All-New Odyssey Pricing
About Guangzhou Honda Automobile Co., Ltd.
|Capitalization Ratio||:||40% Honda Motor Co., Ltd.
10% Honda Motor (China) Investment Co., Ltd.
50% Guangzhou Auto Group Corp.
|Location||:||Guangzhou City, China|
|Representative||:||Sho Minekawa, President (Director, Honda Motor Co., Ltd.)|
|Employment||:||Approximately 4,300 associates|
|Start of Production||:||March 1999|
|Products||:||Accord (2.0L, 2.4L, 3.0L V6), Odyssey,
Fit Saloon (1.3L, 1.5L) , Fit(1.3L, 1.5L)
|Annual Capacity||:||240,000 units|