Thursday, May 24, 2012
   
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Honda Motors To Invest In Building Jets

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Honda Motors said it is expecting to grab at least a quarter of the world market for small business jets, soon after delivering its first aircraft next year, achieving the company's long-standing goal of taking to the skies.

Honda, Japan's third largest car maker and the world's biggest manufacturer of motorcycles and engines, is in the final stages of getting its $4.5 million HondaJet certified. It aims to ramp up the pace of production to 80 a year in the first half of 2013.

Honda said it received more than 100 orders for the seven-seater jet in three days when it began taking orders in 2006, promising a quieter engine, 20 percent better fuel economy over competing models and operational costs of two-thirds or less.

Honda said it held a backlog of about three years from orders taken through its nine dealerships in North America and Europe.

The automaker said the Civic, known for its reliability, durability and mileage, has consistently been among the best-selling cars since its launch in 1973, forcing industry giants such as General Motors Co to follow suit with cars to meet the country's tighter emissions regulations.

Honda's ambition of making jets traces back to its iconic founder, Soichiro Honda. The HondaJet will make Honda the only car maker in the world to build its own aircraft.

Its engine is made by a joint venture between Honda and General Electric Company.

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