Honda's shares in Europe have not been doing well lately. In 2011, Honda Europe fell to a market share of just over 1%. But Honda won't let that stop it from competing with other manufacturers. However, it will take Honda until at least 2013/2014 to return to profitability in Europe. In that time frame, Honda will be moving to having almost 80% of all Euro cars (nearly 180 000 vehicles will be doubled by the end of this year to begin with) sold be produced in the UK. Honda Europe's head continues to look for ways to cut Honda Europe's exposure to the yen. 40% of Honda's sales in the region are Hondas produced elsewhere in the world including every Honda Accord sold. In the next-generation Accord, Honda Europe is looking to import the model from the US, cutting down shipping times from four weeks to seven days.
Honda will also be hiring more engineers in the UK region and putting an increased emphasis on local content in its vehicles made in Europe. Honda Europe hopes to achieve 300 000 sales in Europe by 2014/2015.
Honda also brushed off rumors that Honda would enter into an alliance with another company to fund fuel-saving technology in its cars. Honda has no interest with allying and does not have any future plans. Honda will be adding a new, 1.6L diesel engine into its European engine portfolio some time in the near future.
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