Honda’s Future Plans for India
Honda has been an aspirational brand in India, giving us iconic nameplates like City, Accord, and Civic. However, in the last few years, the brand has faced challenges in the country. Its decision to not join the SUV bandwagon early on has hurt its stake in the Indian market. Though it has rectified this by launching the Elevate, is it too little too late? Could Honda Cars leave the Indian car market? This is one question a lot of people ask in our consultancy service and we thought to address the future of Honda Cars India.
To answer your question, we firmly believe Honda Cars is positive about the Indian auto market and will not be leaving the country anytime soon. Hang around till the end as we tell you all about the brand’s current products, sales, and future plans.
Yes, Honda has faced a torrid time in India, but the Elevate has given them a new lease on life. The Creta rival SUV has already crossed the 20,000 sales mark and helped the brand post a YoY growth of 11% in January 2024. Additionally, the Honda Amaze and the Honda City continue their battle in the sedan segment, providing some useful sales numbers for the company. This hints that the fortunes of the brand have improved significantly.
Another avenue where Honda is focusing is the export market. India is the third biggest exporter for Honda outside Japan, and this is only going to increase with the onset of electric vehicles. So Honda will not just abandon its manufacturing capabilities in the country.
Honda has learned that SUVs are the way forward in the Indian market. It plans to launch four new SUVs by 2030. These new SUVs could include an Elevate EV and a 7-seater SUV. Along with these, the brand has also stated plans to launch one new car every year. Current products like the Amaze are going to get new-gen updates in the second half of 2024. Along with updates to existing products, the brand is also exploring the possibility of bringing some of its premium models through the CBU and CKD routes to India. So the overall outlook looks quite positive, and Honda Cars doesn’t look like it will abruptly leave the Indian market.
In conclusion, Honda’s strategy to stay and grow in the Indian market appears robust and promising. With the introduction of new SUVs, including electric and larger family-oriented models, along with continual updates to existing popular models, Honda aims to cater to the evolving demands of Indian consumers. The brand’s focus on both domestic sales and export potential underscores its commitment to leveraging India as a critical market and manufacturing hub. Hence, it’s clear that Honda Cars is here to stay and thrive in the Indian automotive landscape.
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