To bring back good volume, Honda will launch two more products this year and then the company will follow up with three new products in the next fiscal year
Honda was one of the dominant manufacturers in the Indian passenger car market few years ago. But the company lost the third position to Mahindra and then fourth position to Tata Motors last month. Soon Toyota is going to overtake them for the fifth position also if the company didn’t increases sales much.
One of the problems for Honda is the lack of products as they depend heavily on City to drive sales. But the C-segment is not witnessing huge growth and new players like Verna and Ciaz are taking sales away from the City. The recent launch of Yaris which comes with petrol only won’t help City as majority of the sales of the sedan is coming from petrol models.
Honda India launched the second generation of Amaze earlier this week. The compact sedan is priced head on against the segment leader Dzire and the Amaze is the first model to get diesel CVT option in the segment which is expected to bring lots of volumes for the product. The company is expecting Amaze to be really successful to help the Japanese brand move ahead.
To bring back sales, Honda will launch two more products this year and then the company will follow up with three new products in the next fiscal year also. The Japanese manufacturer will bring back CRV and Civic later this year which is expected to bring volumes for the company. Both these products will come with new diesel engine from Honda.
The company hasn’t given much detail about the three new models for the next fiscal year. Gaku Nakanishi, CEO and President of Honda India said that they are studying all the possibilities and we would like to fulfil whatever the customer demands. We can expect Honda to bring compact SUV in the growing market which will replace WR-V in the lineup.
Honda is also preparing EV strategy for Indian market but the company said that lack of charging infrastructure, range anxiety and affordability are the key issues for electric vehicles in India. Until the EV segment flourishes, the company will bring more hybrid models to India which will help the company in EV transformation.