Japanese auto giant Honda Cars is planning to step up its plans in India with the launch of new models in the coming days. The automaker has teased its upcoming SUV for the Indian market, which is poised to compete with compact SUVs like the Hyundai Creta, Kia Seltos and others. The new SUV, expected to launch this summer, will be the first of several new models planned by Honda for India. The automaker said it plans to launch one new vehicle a year to grow its business in India in the coming days.
The new one Honda’s motobike The SUV, along with other upcoming vehicles, will primarily target the premium segment. It also plans to stop using diesel engines in its cars in the future. On the sidelines of the launch event Honda City upgraded version on Thursday, March 2, Takuya Tsumura, President and CEO of Honda Cars India, said the automaker plans to launch new cars priced at $10 lakh or more in next few years. “In the passenger car segment, more than 40% of sales come from models priced above $10 thousand. We hope this will develop further. Our focus will be on introducing the model in more than $10 lakh segment,” he said.
Honda is currently selling models such as the City and Amaze sedan in the compact and compact car segments, besides WR-VU Small SUV and Jazz hatchback car. The City is the best-selling model in its segment, while the Amaze is also one of the Japanese automaker’s best-selling models in India. Together, these two models contribute about 60% of Honda’s total sales in the country. However, the lack of a successful SUV for a long time has hindered Honda’s growth in India. In the past, Honda has stopped making more models than most other automakers. Some of these models include things like CR-VBR-V and Mobilio.
Besides the upcoming SUV model, Honda plans to launch many new models as well as completely upgrade the existing product line in the next few years. It also plans to introduce imported models to focus on the premium segment. Honda has also not ruled out introducing hydrogen and electric vehicles in India. “India is also part of the plan, but each market is different depending on the infrastructure,” said Tsumura.
Honda manufactures its cars at its Tapukara facility, located in Rajasthan. The automaker is planning to soon increase capacity from 1.2 lakh units per year to more than 2 lakh units.
First published date: March 2, 2023, 3:59 p.m. IST
