Honda is planning to launch one new model every year over the next three to five years to increase its market share; an all-electric vehicle is also considered
Honda Cars India will reportedly launch one new car every year over the next three to five years to increase its market share in the ever-demanding domestic market. The arrival of stricter emission standards from next month meant that the Japanese manufacturer had to let go of a number of offerings from its lineup and it only sells two models currently.
The fourth-generation Honda City, WR-V compact crossover, Jazz premium hatchback, diesel-powered Amaze compact sedan and City midsize sedan are no longer available on sale. The Amaze is retailed with a 1.2L NA petrol engine while the City is powered by a 1.5L four-cylinder NA petrol and a 1.5L strong hybrid petrol engine.
The City received a facelift recently as Honda updated the front end and added some features to stretch the lifespan of the existing generation. It is priced between Rs. 11.49 lakh for the base variant and it goes all the way up to Rs. 15.97 lakh for the range-topping model (ex-showroom). The facelifted City will be followed by a brand new midsize SUV.
It will hold plenty of importance for the brand and will be based on the same platform as the fifth-gen City. The five-seater has already been caught testing on public roads and it will make its world debut by the middle of this calendar year. Kunal Behl, VP of marketing and sales at Honda Cars India has confirmed that a new model is coming in H1 FY2024.
He further noted the strategy of launching one new model every year over the next three to five years could be “either new models or variants”. The company is expected to grow eight per cent in the existing FY with around 92,000 unit sales and exports contributing to 23,000 units with a YoY growth of 25 per cent.
Honda is also considering the launch of an all-electric vehicle in the future but no more details have been confirmed yet. The brand has a production capacity of 1.8 lakh units per year at its manufacturing unit in Rajasthan. The upcoming midsize SUV will take on Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, Toyota Hyryder, VW Taigun, Skoda Kushaq, MG Astor, etc.