Sanyang Industrial Co (
"Honda's breaking up the partnership will cause us great losses because we have invested heavily in promoting Honda's Accord and Civic cars," Sanyang spokesman Yeh Feng-ming (
"There are other losses like investment in developing new cars," he said.
He said Sanyang still has 6,000 Honda cars on the assembly line or already assembled.
It plans to sell these vehicles and announce a new partner by the end of the month.
On Thursday, Honda announced in Taipei it would end its 41-year partnership with Sanyang in order to set up its own company in a bid to cut costs and boost competitiveness.
The new unit was to start in March and is to manage Honda's motorbike and automobile sales, after-sale service and spare-parts supply in Taiwan.
Honda's contract with Sanyang ends at the end of June.
Local media said Honda ended the partnership after failing to acquire a controlling stake in Sanyang. Honda holds 12.52 percent of Sanyang.
Sanyang started as a car assembler but shifted its focus to making motorbikes. Honda hopes to stem a fall in Taiwan sales as rivals expand imports following Taiwan's accession to the WTO on Jan. 1, reports said
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