Honda Cars India Ltd expects strong double digit volume growth this fiscal, backed by launch of three new models this fiscal. Introducing its compact sedan Amaze here today, Rajesh Goel, Senior Vice-President and Director, Sales and Marketing, Honda Cars India Ltd, said, “We expect Amaze to contribute significantly to the growth expected in the country's automotive market this year. With the launch of CR-V and Civic also expected during the year, we believe we can achieve double digit growth.”

The Japanese automotive major, which had closed the last financial year with overall volumes of about 1,70,000, expects to see this going up past the 200,000-mark this year, thereby enabling the company to increase its market share from 6 per cent.

“If the volume growth sustains, we may even head towards double digit share over a period. This model will create new excitement in the segment and will provide us opportunity to expand our business across markets,” he said. While for Honda in India the focus continues to be on the domestic market, the company exports some models to select markets in Africa.

On the upcoming bigger Civic sedan, Goel said, “Honda has built a loyal consumer base. We hope to enable them to upgrade to the newer model with the launch of the Civic later during the second half of this fiscal.”

Honda has sold more than 2.6 lakh units of the Amaze sedan since its introduction in 2013 and now expects the all-new Amaze to help generate strong volumes. The company, which has two manufacturing facilities, one near Greater Noida and another at Tapukura in Rajasthan, with a combined manufacturing capability of 2.8 lakh units per annum, is looking at higher utilisation. The company has already achieved more than 96 per cent localisation in the Amaze.

Related Topics
comment COMMENT NOW