Honda Cars evaluate Indian market for launching more SUV models
Elaborating further, HCIL Senior Vice President and Director (Sales and Marketing) Rajesh Goel said the shift towards SUVs is a global phenomenon. "India also has a similar trend and going forward one has to keep looking at the most optimum product which can be launched... To deliver maximum value to the customer, and that is what we intend to do," he said.
Japanese auto major Honda Cars is evaluating the Indian market to introduce more SUV models going ahead, a top company official said Tuesday. The company, which is set to bolster its sport utility vehicle (SUV) portfolio by introducing the next generation CR-V next month, has already committed to launch six models in the country over the next three years.
"The Indian market is diversifying, not only hatchbacks but sedans also. The SUV market is growing, so ofcourse as Honda philosophy we always try to study from the customer... What kind of vehicle will be appreciated," Honda Cars India Ltd (HCIL) President and CEO Gaku Nakanishi told PTI, replying to a query about company's plans to launch more SUV models.
Elaborating further, HCIL Senior Vice President and Director (Sales and Marketing) Rajesh Goel said the shift towards SUVs is a global phenomenon. "India also has a similar trend and going forward one has to keep looking at the most optimum product which can be launched... To deliver maximum value to the customer, and that is what we intend to do," he said.
The company is studying the market very carefully, he added.
When asked if the Honda has set a sales target for the all new CR-V, which would now also come with a diesel powertrain, Nakanishi said Honda has "very high aspirations" from the model. "We are looking at many many more numbers as compared to the outgoing model," he said without sharing any sales target.
The company has sold over 17,500 units of petrol powered CR-V units till date in the country. With majority of sales in the premium segment coming from diesel variants, Honda is set to benefit by introducing a diesel version, Goel said.
Currently, the premium SUV segment in the country is dominated by the likes of Toyota Fortuner and Ford Endeavour.
Honda will assemble the new CR-V at its Greater Noida facility. Both petrol and diesel versions of the model will feature automatic transmissions only.
While the petrol variants would deliver a power output of 154 PS, the nine-speed diesel automatic versions would come with 120 PS of power.
The company, which plans to launch three new products during the current fiscal, has already introduced new Amaze earlier this year.
When asked about sales growth expectations for the current fiscal, Goel said, "Until now the market growth has been around nine per cent and Honda has grown similarly. We aspire to grow better than the industry".
Last fiscal the company sold a total of 1.72 lakh units, a growth of 8 per cent over 2016-17.
Watch this Zee Business video
In the current fiscal, (April-August) period, HCIL has sold 79,599 units, up 9 per cent from 73,012 units in the corresponding period of previous fiscal.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
02:18 PM IST