Honda Motorcycle & Scooter to invest Rs800 crore, aim for double-digit growth
11 April 2018
Honda Motorcycle & Scooter India (HMSI), which created a record by adding a million units in incremental sales in one year, will invest Rs800 crore and aim for double-digit growth for the third consecutive year.
“India is already the number one contributor to Honda’s global two-wheeler business,” said Minoru Kato, president and CEO, HMSI. “Our record sales have set a solid foundation in 2017-18 and Honda 2wheelers India will further consolidate its position in 2018-19 as we get ready to lead the biggest paradigm shift of 2020.”
For the current fiscal, the company plans to introduce a new model and 18 upgrades of existing products. It will also expand its reach to 6,000 touchpoints with the key focus on hinterlands.
The company has also initiated the modernisation and unification of production across all plants. It has also announced its BS-VI roadmap with its suppliers to ensure a smooth and timely product portfolio upgradation.
According to Yadvinder Singh Guleria, senior vice president – sales & marketing, 2017-18 was a historic year for Honda in more than one way. “Honda 2Wheelers India is the only two-wheeler company in the world to grow at a pace witnessed never before, adding 1 million plus incremental customers in a single year,” he said.
Led by strong demand in both domestic and exports front, Honda’s sales apexed at 6.12 million units, a 22-per cent growth. “The aggressive launch of four brand new models, new capacity infusion and addition of 500 new outlets propelled Honda’s growth story further and set the solid foundation for future growth,” he added.