Honda has struggled to maintain its position in the Indian market in the past few years, and the credit goes to its aging product portfolio and stringent emission standards. Defying all odds, the Japanese carmaker is now getting ready to revive its market with a slew of new product launches. Takuya Tsumura, President and CEO of Honda Cars India, recently revealed that the company has a ‘robust product strategy’ and aims to bring in five SUVs by 2030. The first model to roll out under its new product plan will be the Honda Elevate, scheduled to go on sale in a couple of months.
Foray Into Electric Space
Furthermore, Honda Cars India will foray into the electric vehicle (EV) space in the next three years. The company has confirmed that its EV product lineup will include an electric iteration of the Elevate SUV. It aims to achieve two-thirds of vehicle sales from EVs, and its India plan will align with the global strategy. To do so, the Japanese automaker will explore the potential to introduce premium global models via CBU (Completely Built Up) and CKD (Completely Knocked Down) routes in the country.
Upgrading Dealership Network
Honda Cars India has made a huge investment of Rs 260 crore to upgrade its dealership network, including introducing a new customer interface (CI) in its showrooms. At present, the company has around 326 touchpoints across 238 cities, and 30 percent of its total sales come from Tier 3 cities.
Two Major Product Launches
As mentioned above, the Honda Elevate is going to be the next big launch from the Japanese automaker in India. It will be positioned against SUVs like the Hyundai Creta, Kia Seltos, Maruti Suzuki Vitara Brezza, Toyota Harrier, Skoda Kushaq, and Volkswagen Tiguan. The Elevate will be followed by the new-generation Honda Amaze in 2024.”
