Honda Motor Co.

Automotive
7
NYSE:HMC
Japan

"Japanese car manufacturer Honda's product portfolio will be completely available in Iran by the end of this year, according to a company official. Honda's CR-V and Accord models are already available in Iran's market and with the addition of several new cars, including Accord Hybrid, the product portfolio of Honda will be complete. Golrang Motor Family says it is the representative of Honda's sales and after-sales services in Iran.  "One of our main targets in the current year is to increase the number of our branches throughout the country," he said. "We have six branches right now and we have planned to raise this number to 14 by the end of this year." Noori announced that two new branches of Golrang Motor Family will be opened in Tehran this week. The company is selling Honda Accord EXL, Accord EXB, CR-V EXL and CR-V Touring." (Financial Tribune, "Honda Expanding Presence in Iran," 7/19/2016).

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"Previously, 25 car brands were included in the list, such as South Korean brands (Kia and Hyundai), Chinese brands (SAIC motors), Italian brands (Fiat, Alpha Romeo), Japanese brands (Honda, Mitsubishi), German brands (ABT), and Swedish brands (Volvo)." (Azer News, "Iran bans imports of renowned car brands," 5/27/2013)

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"Honda operated in Iran from 1974 to 2008, according to a company spokesman. The company partnered with an Iranian company, Tizro, to make motorcycles and exported power equipment to the country. Honda ended its relationship with the Iranian company in 2008, and has no plans for future investments there, but will continue providing parts until 2012 because of contractual obligations, the company said."  From 2000-2009, the company was the recipient of $6.3 million US federal funds.  Their activities in Iran are currently active, but there are no plans for new investments. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"Rep. Mandel startled veteran lawmakers when he announced plans for a bill that would force the states five public pension funds to divest themselves of stock in foreign companies doing business in Iran. The funds manage over $180 billion in assets, and among the companies targeted were more than a dozen with major investments in Ohio, including Japans Honda Motor Co." (The Associated Press, "Should states sell stocks to protest links to Iran?" 6/14/07)

No response at this time.