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Honda expects India to contribute 30% of its global motorcycle sales by 2020
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The Japanese major is looking forward towards solid contribution in its global sales from the Indian sub-continent in coming years
Japanese motorcycle giant Honda recently unveiled a mass segment 110cc offering in the Indian market. During the launch of the new Dream Yuga 110 entry level motorcycle, Keita Miramatsu, President, Honda Motorcycle & Scooter India commented that the big H expects that the Indian market will contribute about 30% to its total global sales by 2020. It might seem a far-fetched dream, but going by Honda’s current strength in the burgeoning Indian market across all two-wheeler segments including scooters (wherein it is the market leader), one cannot undermine Honda’s potential in the Indian two-wheeler space as the market is quickly picking up pace.
In 2011, almost 79 percent of Honda’s total sales came from the Asian region while the remaining sales came from the other global markets. HMSI’s portfolio in India includes a total of fifteen two-wheelers ranging from scooters, commuter motorcycles to the high-end import motorcycles. Together, the Indian range has amassed sizeable numbers for Honda propelling the Japanese major onto the second spot ahead of Bajaj Auto in the sales race last month. While Bajaj Auto has regained the tag of India’s second largest bike-maker, Honda is not languishing too far back with the firm’s third plant already in place and the Japanese company sizing up its top two rivals, Hero MotoCorp and Bajaj Auto in the Indian market.
Last year Honda ended its 26-year long joint venture with India’s Hero Group and since then the Japanese giant has stepped on the gas in order to secure 20% market share in the country. However, the company already enjoys the honour of being the largest international motorcycle-maker in the country. And now with Honda’s advent into the enormous entry level segment in India, the Japanese bike-maker has its eyes set on the second largest motorcycle market in the world.
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