Honda Cars India has plans set in the pipeline to introduce new models for the Indian market according to Livemint. The Japanese company has endured rollercoaster of a ride in the last few years and only two of its products have been turning good sales. Except for the City and Amaze sedans, the Brio, Mobilio and CR-V have taken a downward curve.
With competition heating up in all the segments, Honda really need to step up its game by a large margin especially as the City has come under increased pressure from the Maruti Suzuki Ciaz and for the last few months, it’s been the favourite car for buyers in that particular segment.
Livemint reported that three people in-the-know who declined to identify themselves have revealed the plans. Honda is introducing its compact SUV, the BR-V, for sale since the 5th of May and following it up will be a crossover based on the Jazz platform. Codenamed internally as 2FM, it will enter the tight crossover space next year.
The Indian arm of Honda is also working on bringing up the next generation Brio hatchback. The brand could rely heavily on the development of the new Amaze sedan, which was facelifted recently, as the sub-four segment has all the bells and whistles to produce an instant hit product. The codenames for the new Brio and Amaze are 2UA and 2UB respectively.
All these models are expected to be launched in the fiscal year 2018-19. It’s no secret that Maruti Suzuki and Hyundai have got the better of Honda in all the volume churning segments. So an aggressive product strategy is definitely needed in order to get back in the fray.
In the last fiscal, Honda managed to sell 192,059 units totally which is only at a 2 per cent increase but most importantly the company’s shares in the passenger vehicle market were declined from 7.2 to 6.8 per cent compared to the previous period.