Honda to expand India presence with new 2-wheeler launches
What's the story
Honda Motorcycle and Scooter India (HMSI) is gearing up to expand its footprint in the Indian two-wheeler market. The company plans to do so by launching a series of new models, an official from the company told PTI. Currently, HMSI holds a 28% market share in this sector. To further strengthen its position, the company recently launched two new motorcycles in the 100cc and 125cc segments.
Market leadership
HMSI aims to maintain its market leadership
Yogesh Mathur, Director (Sales and Marketing) at HMSI, has confirmed the company's intention to boost its market share with new launches. He said that in July and August, HMSI became a market leader in both the motorcycle and scooter segments. The company is now focused on maintaining this momentum going forward.
Information
Honda's success in other countries
Mathur also highlighted growth potential for HMSI in India, citing similar success stories of Honda's subsidiaries in Indonesia, Thailand, and Vietnam. These companies control 70% to 80% of their respective markets. "We believe there is enough scope for HMSI to grow in India," he said.
Market reach
Exports and electric scooter sales
HMSI exports to 62 countries from India, including those in Southeast Asia, South and Central America, and Europe. Mathur said that exports contribute to 10% of the company's revenue. The company also launched electric scooters in India last year. However, Mathur admitted that their sales are quite small at present, accounting for only 5% to 6% of the market share.