Premium car manufacturer Honda Siel Cars India Ltd today launched its much awaited premium hatchback the 'Honda Jazz', priced at Rs 6.98 lakhs (Ex-showroom Delhi).
''The car will cater to a unique group of people who want the latest and the most stylish model with best of technology, safety and practicality in their cars,'' company President and CEO Masahiro Takedagawa told reporters here.
The car will be manufactured at the company's facility at Greater Noida with 77 per cent localisation whereas the remaining will be imported from countries such as Thailand, Indonesia and Japan.
The Jazz is equipped with a 1.2 litre i-VTEC engine designed especially for the Indian customer.
Asked whether it was a right time to launch a new product in the current market scenario, Mr Takedagawa said, ''the economy is showing signs of recovery and hopefully the motoring industry will also bounce back.'' However, he maintained that it was not wise to enter a niche car market but the company is eyeing to sell about 2,000 units of the Jazz in a month.
With the launch of the new car, the company is planning to create a new (J) segment just below the Honda City in the country.
Available in three types of manual transmission Jazz, Jazz 'Mode', Jazz 'Active' the car will be offered in six colours.
The booking will start immediately across the company's dealership, Mr Takedagawa said.
He also said that the signing of FTA between India and Thailand would further prove advantageous to the customers. However, the company is waiting for official signing of the deal.
Sold in over 130 countries, the second generation 'Honda Jazz' has registered cumulative sales of 2.8 million units.