Honda Motor Co. will try to boost its motorcycle sales share in Nigeria by marketing US$700 bikes in the African country within the year, sources said Thursday (January 7).

The price, equivalent to about 65,000 yen, will be the lowest among motorcycles marketed by Honda worldwide.

By bringing the low-price model to Africa, seen as a promising emerging market following China and India, Honda aims to increasing its sales share on the continent, the sources said.

Honda has been selling models at prices of about 80,000 yen in Nigeria, but its market share there has stagnated at about 2 per cent.

Honda will ask Chinese and Indian parts makers for cooperation in the Nigerian venture to cut production costs, the sources said.

Honda's Nigerian arm is Honda Manufacturing (Nigeria) Ltd. In November, Honda transformed the status of the joint venture into a locally incorporated company by increasing its share of the firm's stock. Honda plans to produce 100,000 to 200,000 units annually in its Nigerian operation.

The global motorcycle market is about 45 million units a year, of which Honda holds the largest share.