Honda Motor Co. Ltd.’s South Korean subsidiary, Honda Korea Co. Ltd., launches sales of the CR-V cross/utility vehicle.
The CR-V is the second Honda model to hit the market in South Korea, following the debut of the Accord in May. Honda says Accord sales stood at 750 units at the end of last month, almost reaching the auto maker’s target of 800 units for 2004.
The CR-V, built at Honda’s Saitama plant near Tokyo, will begin at 29.9 million won ($25,941) for a 2-wheel-drive model and 33.9 million won ($29,414) with 4-wheel drive.
The South Korean CR-V is based on the North American version of the vehicle. However, Honda has made some changes for the South Korean market, such as making leather seats standard.
Currently, Honda has just two South Korean dealers operational, both in Seoul, but it expects to open a third Seoul dealership, as well as a showroom in Pusan, by the end of the year.
Honda expanded its existing motorcycle sales subsidiary last year to create Honda Korea, raising capital from 3 billion won ($2.6 million) to 12 billion won ($10.4 million). |
