LAGOS, Nigeria, September 17, 2013 - Honda Motor Co., Ltd. announced at a press conference in Lagos, Nigeria, the establishment of Honda Automobile Western Africa Ltd. (HAWA), a wholly-owned Honda subsidiary for the import and sales of automobiles and automobile parts in Nigeria, the largest market in Western Africa. Attendees included representatives from the Embassy of Japan in Nigeria and representatives from Honda including Manabu Nishimae, Managing Officer / Chief Operating Officer for Regional Operations (Europe, CIS, the Middle & Near East and Africa).
As the second local automobile subsidiary established by Honda in the African region, following South Africa, HAWA will officially begin operations this month. HAWA will import City from Thailand and Civic, Accord, CR-V and other models from the U.S. and sell them in Nigeria. In addition to introducing automobile products satisfying customers in Nigeria, Honda will focus on strengthening HAWA's after-sales service to ensure customer satisfaction.
Based on Honda's basic approach with local operations to "start small and grow big," Honda has been expanding its motorcycle business in Nigeria through a motorcycle production and sales subsidiary. Taking the same approach, Honda will strive to expand its automobile business in Nigeria, the most populous country in Africa where continuous growth is expected. Based on its 2012 automobile sales in Nigeria, which was approximately 2,500 units, Honda will strive to sell more than 3,000 units in 2013 and 4,000 units in 2014.
Positioning Africa as a new growth market, Honda has been strengthening its sales in this region through local Honda subsidiaries. In southern Africa, Honda has been expanding its motorcycle, automobile, and power products business through a local subsidiary Honda established in the Republic of South Africa in 2000. In western Africa, Honda established a motorcycle production subsidiary in Nigeria in 1979. In eastern Africa, Honda established an automobile business office in December 2011 and a motorcycle production and sales subsidiary in Kenya in March 2013.
"I am pleased to announce the establishment of Honda Automobile Western Africa Ltd., a new distributor of Honda automobiles and parts here in Nigeria, in order to further develop and enhance our business in the country. Honda has taken a bold step toward the expansion of the 'Joy of Buying' in Nigeria, leading us towards the achievement of the 'Joy of Selling' and the 'Joy of Creating.' And as a result, I am convinced that we can achieve dynamic growth of our business here in Nigeria."
|Capital Investment||1.85 billion Nigerian naira|
|Capitalization Ratio||100% Honda Motor Co., Ltd.|
|Location||Victoria Island, Lagos, Nigeria|
|Business||Import and sales of Honda automobiles and automobile parts|