Honda to Launch Acura Brand in China in Early 2006

Tokyo, Japan - July 25, 2005 -- Honda Motor Co. , Japan's third-biggest auto maker, said on Monday it planned to launch its premium Acura brand in China -- the first time outside North America -- starting with the RL luxury sedan next spring.The imported Acura cars will be sold through a dedicated Acura dealer network to be set up by its wholly owned local unit, Honda Motor (China) Investment Co. First-year sales are targeted at 3,000 units, Honda said in a statement. Demand for luxury cars in China continues to grow, even as lower-end products become cheaper amid a fierce price war. Honda launched the Acura brand in 1986 to enter the higher-margin premium car segment in North America, where sales reached a record 220,000 units last year.