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Honda Cars Eyes Premium Player Position
Japanese automaker Honda is aiming to be a premium player in the Indian market. The company wants to focus on pricing of the products.
The Indian wing of the Japanese car maker Honda Cars India aims to establish itself as a premium brand across the segments.
Currently, Honda has less volume in the segment compared to Maruti Suzuki or Hyundai. But the company wants to overcome this problem by focusing on quality of the product and getting the pricing right.
Yoichiro Ueno, CEO, Honda Cars India said, "We believe real motorisation or expansion will be seen in 2020... it is important to establish the foundations towards that period rather than chasing quick volume."
He also said that it was important to grow volumes and establish the brand and, maintain its market presence in the country. But the priority was given to reinforce the company.
In the period of 2016-17, Honda Cars India retailed 1,57,313 units, 18 percent less compared to the previous fiscal. But the company has achieved a growth of 38.1 percent in the current fiscal.
The company expects to maintain the momentum. The recently launched new City sedan and WR-V crossover have gained good response from the customers, and Honda hopes to record good sales volumes.
Commenting on the Goods and Service Tax (GST), Ueno said that customers might postpone their purchase plans until they are clarified about the new prices. With the growth in SUV segment, the company is also planning to launch the HR-V SUV.
