Honda Cars India has already announced its plans to launch six new models over the period of next three years. This strategy of the company is to regain its lost third position in the Indian passenger vehicles market, recently revealed a top company official. The Japanese auto major’s new product launch strategy in India has already begun with the launch of the second generation model of the popular Honda Amaze subcompact sedan, which took place on 16th of May, 2018. Priced from Rs. 5.6 lakhs to Rs. 9 lakhs, the all new Amaze is set to boost the company’s sales. The Honda cars India boss also said that the company is also chalking out a strategy for electric vehicles specifically for the domestic car market.
Giving a clear view, Honda Cars India’s President and CEO Gaku Nakanishi told the media that the company will be launching three new products this fiscal which includes the already launched all new Amaze. In the next three years, Honda India will launch another three new models. In the second half of this current financial year, Honda will be launching the new generation CR-V compact premium SUV and Civic premium sedan, he added. However, he did not disclose details of the other three new models, but offered a hint by saying that these could be addressing the new segments, including the popular compact SUV segment.
He added by saying that the company would offer products to cater to the customer demands. This year the company doesn’t want to witness lower sales rates, as the Indian market is rapidly growing. The company wants to expand its product lineup significantly and is hoping to get good sales growth this year. Honda Cars India managed to sell 1,70,026 vehicles in 2017-18 fiscal as compared against 1,57,313 cars in the previous fiscal, accounting to 8 percent increase in sales. However, due to increased competition, Honda lost its position in the list of top three passenger car makers in India.
Nakanishi also said India is a very important market for Honda as it currently contributed 23 percent to Honda’s overall Asia Pacific region sales. With the launch of new models, this is likely to increase.
When Honda Cars India’s electric vehicles plans are concerned, Nakanishi said that the company is currently preparing a strategy for India, but refused to disclose any timelines.
Nakanishi said the main hindrance in the path of electric vehicles adaptation in the country now is lacking charging infrastructure and range issue due to battery technology and cost issues. He added by saying that the company would definitely like government incentives for electric vehicles in India.
He also said that till the time the electric vehicles battery technology advances and also becomes affordable to be practical for the Indian car market, hybrid vehicles would be suitable for India and help in better transition from conventional combustion engines to electric powertrains, and Honda wishes to launch more hybrid models in India.
While speaking on the all new Honda Amaze’s launch, Nakanishi said that it is a big move from Honda and the company expects the second-gen new Amaze to replicate the success of the City sedan in India.