HMSI seeks to increase market share through series of new model launches

Honda Motorcycle and Scooter India (HMSI) is seeking to increase its market share in the two-wheeler sector in the country through a series of new model launches, a company official said.

The company has launched two new motorcycles in the 100cc and 125cc segments in the Indian market. The current market share of HMSI in the two-wheeler sector in the country is 28 per cent, the official said.

HMSI Director (sales and marketing) Yogesh Mathur said, "The company is a leading player in the two-wheeler segment in India with 28 per cent market share. We aim to raise the market share with new launches in the coming days."  The Indian subsidiary of Japan's Honda Motor Company manufactures motorcycles and scooters in the country at its facilities in India.

HMSI has motorcycles in the 100cc, 110cc, 125cc, 160cc and 200cc segments, and four models in the scooter segment, in India.

Mathur said that in July and August, HMSI emerged as a market leader in the motorcycle and scooter segments in the country. The company wants to sustain this trend in the future, he said.

"Honda's subsidiaries in Indonesia, Thailand and Vietnam control 70 per cent to 80 per cent market share in the two-wheeler segment in these countries. We believe there is enough scope for HMSI to grow in India," he said.

HMSI exports to 62 countries from India, including nations in Southeast Asia, South and Central America and Europe.

Mathur said 10 per cent of the revenue of HMSI is contributed from exports.

HMSI launched electric scooters in India last year.

Mathur said sales of electric scooters in India are very small. Electric scooters garner only five per cent to six per cent of the market in India at present, while the balance market share is with the ICE (internal combustion engine) segment, he said.