Honda sold 1.35 lakh cars in the country in first 9 months of 2017; registered 22% growth in H1 of this fiscal
Honda Cars India is seeing impressive success with its products like the new City sedan and WR-V crossover. The Japanese car manufacturer has sold 135,501 units in the domestic market in first 9 months of 2017. Also, it registered 22% growth in the first half of current financial year. Thanks to this, India has become Honda’s number one market in Asia and Oceania region.
With this, India has beaten Indonesian market that is one of the major markets for the Japanese brand. The automaker recorded 130,587 units in Indonesian market in the first 9 months of current year. The brand’s strategy to focus on upmarket products instead of mass market basic cars is paying off.
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The automaker is eyeing greater market share in the country with more new models. Honda has already announced that it will launch six new cars in the domestic market in next three years. As the brand has seen pretty good response with the WR-V here, we can expect more utility vehicles to come here near future. The tenth generation Honda Civic, Honda HR-V are due for India launch. Apart from that, the facelifted Jazz too is ready to launch here.
As Honda says, the success in Indian market comes as an effect of the brand’s strategy change. Indian customers are showing more interest towards premium products compared to earlier times. Honda too is trying to bring products with several advanced features, efficient powertrains along with fresh design. This way, the brand has been able to change the tide and win hearts of the customers.
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Speaking about its future strategy for the domestic market, Honda clears that it will continue focusing on the premium products instead of mass market focused small cars. The competition in small car segment is very high and Maruti Suzuki dominates there with its range of popular products. Therefore, Honda doesn’t see much profitability in this category.