Honda banks on 3 new models to beat market growth in India this fiscal

Honda Cars India, the wholly owned arm of Japan's auto major Honda, is betting on its three new models to be launched this fiscal to beat the market growth.

The company, which posted 8 per cent growth in 2017-18 with 1,70,026 units, will be launching the all-new version of its compact sedan Amaze next month to kick start its product offensive for the year.

The company had sold 1,57,313 units in 2016-17.

"We have lined up three new models for this fiscal. We are very much geared up and determined to beat the market growth in terms of our sales plans for this fiscal," Honda Cars India (HCIL) Senior Vice-President and Director Sales, Rajesh Goel told PTI here.

Later in the second half of the year, the company will launch the all-new version of its premium SUV CR-V and the Civic sedan which will make a comeback in India with the 10th generation of the model.

Commenting on the upcoming all-new Amaze which will hit the market next month, Goel said, "As far as Amaze is concerned, we believe that it'll do better than the first generation".

The first generation Amaze launched in 2013 had a cumulative sales of over 2.5 lakh units.

The new generation of Amaze is on a completely new platform developed basically for the Indian market, he added.

"This will be a game changer for boosting our sales and enhancing technology that we offer in our products," Goel said.

The compact sedan, which will be available in both petrol and diesel options, will be the first model in Honda's portfolio globally to have CVT automatic transmission in diesel option.

HCIL had already opened bookings for the sedan and the company is "seriously considering" offering introductory price for the first 20,000 customers, he said.

When asked if the all-new Amaze will be exported, Goel said, "My anticipation based on the almost overwhelming bookings of the new Amaze, we would have our hands full with the domestic market.

"But in terms of exports we have been historically exporting to neighbouring countries and South Africa and some countries around South Africa. Depending on demand from the markets there we would be open to the markets there".