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India beats Indonesia to become Honda's No 1 market in Asia Oceania

In the first nine months of this year, Honda's retail sales in India stood at 1,35,501 units as against 1,30,587 units in Indonesia.

Press Trust of India  |  Tokyo 

honda, city, car
Yoichiro Ueno, president & CEO, Honda Cars India Ltd. Photo: Sanjay K Sharma

has become the largest market in terms of retail sales for Japanese auto major in the Asia Oceania region in the first half of this fiscal and the company is looking to build on the momentum, according to a senior company official. The Asia Oceania region for the company does not include home market of Japan and China. overtook this year to become its top market in the region. "We have grown 22 per cent in the first half of this fiscal and in terms of volumes (retail sales) we have become the number one market for in Asia Oceania region," Cars Ltd (HCIL) President and CEO said here. In the first nine months of this year, Honda's retail sales in stood at 1,35,501 units as against 1,30,587 units in Sales in have been driven mainly by the company's new compact SUV WR-V and its best selling sedan City. With a view to enhance its position in India, has announced that it would launch six new products in the next three years and is reinforcing its position as a premium brand to build on its sales momentum. "There is a shifting of preference in towards premium products and since last year we have repositioned our brand image.

We have also reviewed specification levels of our products in line with consumer demand," Ueno said. So far, the company has received good feedback from its consumers, he added. When asked about the company's plans for the small car market in India, which accounts for over 70 per cent of the Indian market, he said would play on its strength. "The small car market is very competitive and the market is gradually shifting upwards to premium, which is our strength," Ueno said. While acknowledging that the small car segment in was still very large, he did not comment on plans for new models in mass market entry level arena. At present, sells Brio in the compact car segment in along with sub-four metre sedan Amaze along with other premium products such as Jazz hatchback and SUVs BR-V and CR-V and Accord Hybrid besides WR-V and City.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, October 29 2017. 14:16 IST