Newsfrom Japan
Tokyo, April 24 (Jiji Press)–Honda Motor Co. has said it will terminate its automobile sales in South Korea at the end of this year.
The Japanese company, which made the announcement Thursday, aims to concentrate its business resources on projects to enhance its competitiveness, taking into consideration changes in the market environment in Japan and overseas.
Honda will continue to provide after-sales services and parts supplies for vehicles it has sold in South Korea. It will also continue motorcycle sales in the neighboring country.
The company started automobile sales in South Korea in 2004. Annual sales peaked at some 12,000 units in 2008 but stood at only about 2,000 units in recent years.
Currently, four Honda models are available in the South Korean market, including the Accord midsize sedan and the CR-V, an SUV.
[Copyright The Jiji Press, Ltd.]