This excerpt taken from the HMC 6-K filed Oct 20, 2006.
Acura Brand Begins Sales in China
Shenzhen, China, September 27, 2006 Acura brand automobiles today went on sale in China, the first expansion of the Acura brand outside North America. Initial models offered in China are the Acura RL and TL, luxury performance sedans, with an annual sales plan of 3,000 units in the first full year. Honda Motor (China) Investment Co., Ltd. (HMCI), a wholly-owned Honda subsidiary in China, is importing Acura products and marketing them through a dedicated Acura dealer network. The first Acura dealership was opened today in Shenzhen in Guangdong Province, with plans to open ten dealers throughout China within the next twelve months.
Acura RL is a luxury performance sedan, a flagship model of the Acura brand, which achieves advanced driving and safety performance by featuring the most advanced technologies including the worlds first all-wheel drive technology, Super Handling All-Wheel Drive (SH-AWD). The sales price for RL will be 680,000 R.M.B. The U.S.-made Acura TL is Acuras biggest-selling model in North America, and has been popular for its sporty driving performance and innovative exterior design. The sales price for TL will be 430,000 R.M.B.
In addition to the introduction of these attractive products, a dedicated Acura dealer network will be established in China. Each Acura dealer in China will have a unique store design developed with the concept of simple rich and offers the Ownership Lounge, a space for customers to enjoy relaxing time, as well as cordial services with the concept of homelike hospitality that prioritize the customers experience. Further, Acura offers one of the best warranty coverage plans among luxury vehicle brands available in China with a 4-year or 100,000 km warranty period and free inspection for four years.
The introduction to China of the Acura brand will become the first step for the brand to expand from North America to the world, said Atsuyoshi Hyogo, senior managing and representative director and chief operating officer for Regional Operations (China) of Honda Motor Co., Ltd., who attended the announcement in Shenzhen. I am sure that Acura will offer a level of surprise and excitement that customers in China have never before experienced.
Toward this global expansion, Acura is currently accelerating its efforts to further clarify the uniqueness of the brand by implementing initiatives such as the establishment of the Acura Design Center in the U.S., a separate product development group for the brand at Honda R&D in Japan and unique quality control methodology in each factory building Acura products.
Acura was established in 1986 as the first luxury automobile brand introduced by a Japanese automaker in America. With the concept of Luxury Performance, much of the design, development, and manufacturing of Acura products is conducted in the North America, and the brand has been offering various types of products including sedans, SUVs, and a high performance sports car to fulfill the needs of North American customers. As a result, the Acura brand achieved record high sales of 230, 000 vehicles last year.