Honda appears to be working on expanding its reach in the 350 cc middleweight segment with an internal target of three lakh units per year
According to a recent report that emerged on the internet, Honda Motorcycle & Scooter India (HMSI) is working on launching a number of new motorcycles to compete against Royal Enfield’s supremacy in the middleweight category. The Japanese brand has the H’ness CB350 and CB350 RS in the 350 cc space and the platform could be utilised to bring in more motorcycles of different body types.
Honda is targeting a total of three lakh units per year over the next three years with the strengthened portfolio. Atsushi Ogata, President, HMSI told in a recent interview that the number of models in the middleweight segment will increase “year by year” and thus the internal target of three lakh unit sales per annum has been set.
Over the next three years, Honda will expand its reach by increasing the number of touchpoints of the BigWing dealerships to 300. By the end of the current fiscal, Honda will widen its BigWing outlets from 70 to 100 to cover the top fifth UIO areas. Moreover, the company will speed up the expansion of dealers to cover the top 100 UIO areas in the next FY.
Ogata further explained, “Our sales teams are working hard to utilize existing Big Wing dealers to consider the small branch concept in small towns as well. We have confidence to take Big Wing touchpoints in the next 3 years to 300”. The 250 to 500 cc motorcycle segment is steadily growing and more manufacturers are having their presence felt in this category.
Brands like Jawa and the upcoming Yezdi as well as the leader Royal Enfield are lining up a range of new offering to lure in customers. In the first seven months of FY2022, a cumulative domestic tally of 2,76,365 units was sold with a YoY volume increase of 4.2 per cent while the overall motorcycle sales saw a de-growth of 1 per cent.
In the current FY, RE has a commendable market share of 88.6 per cent while Honda has its share increased to 6.8 per cent as against 0.5 per cent in the previous financial year.