April 15, 2021

India regains prime slot in Honda’s world two-wheeler gross sales

NEW DELHI: India raced forward of Indonesia to emerge as the biggest two-wheeler marketplace for Honda Motor Firm (HMC) within the first 9 months of FY21, paced by better-than-expected restoration within the private mobility trade by way of the varied phases of unlocking.

Honda Bike & Scooter India (HMSI) offered 2.64 million two-wheelers till December FY21, in contrast with 1.68 million items offered by the Japanese automaker in Indonesia. India had misplaced the highest slot in native gross sales to the Southeast Asian nation final fiscal.

“To date this fiscal, we’re the best contributor by way of volumes to Honda globally,” stated Yadvinder Singh Guleria, director (advertising and gross sales), HMSI. “We count on the pattern to proceed.”

India presently accounts for 1 / 4 of Honda’s world two-wheeler gross sales.

Guleria added that gross sales within the native two-wheeler market have been low within the fourth quarter of FY20 as a result of impression of the transition to BS VI emission norms from the start of the present monetary 12 months. “Albeit on a decrease base, each trade gross sales and two-wheeler gross sales at HMSI ought to develop in double-digits this quarter,” Guleria stated.

Cumulative gross sales of bikes, scooters and mopeds within the Indian market declined a fifth to 12.19 million items between April and January FY21. Nevertheless, demand for two-wheelers has improved sequentially because the easing of the lockdown. In January, two-wheeler gross sales rose for the sixth straight month by 6.6% to 1.43 million items.

Gross sales of two-wheelers within the native market are anticipated to broaden as demand revives in city centres. With the introduction of vaccines, improve in financial exercise and opening up of educational establishments, gross sales of scooters too have began gaining traction, and can enhance general volumes within the trade, stated Guleria.

Whereas gross sales of bikes have risen since August, demand for scooters had remained muted resulting from depressed consumption in city areas. For HMSI, scooters have a major contribution to gross sales; therefore, revival in city consumption is essential for HMSI.

HMSI registers greater than 60% of its gross sales from scooters. It has determined to go forward with the scheduled launches in 2021 to regain volumes misplaced as a result of Covid-induced nationwide lockdowns.

Guleria declined to specify the variety of new product interventions, however stated these can be unfold throughout segments.