Honda Accord

The Honda Motor Company officially unveiled a plant in South America that focuses on the production of compact cars for the national and international markets.

Since 2009, more and more pressure has been placed on Honda to supply cars to this market. Because of this fervent local and international demand, in 2010 the automobile industry in Argentina produced approximately 700,000 cars–40 percent more than in 2009. Most of the cars exported from Argentina are shipped to Brazil, and exports increased almost 40 percent last year as well. Before the factory was opened, Honda transported the cars it made in Brazilian and Mexican factories to meet the demand in Argentina. The company believes the plant will be a major player in the South American economy. In addition, almost two-thirds of the 20,000 cars that are produced by the factory from 2014 to 2015 will be shipped to other countries.

Cristina Fernandez, the Argentine President, said that this factory could help Honda increase its output. It has been speculated that Honda has spent $210 million on the plant already. Officials believe that the company plans to invest $40 million more by 2012, although an official number has not been confirmed by Honda. » Read more: Honda Begins Producing Cars in Argentina