Japanese automaker Honda Motor is developing an all-new global car platform with a strong focus on India. This development could result in an inception of a new premium compact car, a sedan and an SUV.
Honda Motor is also studying the possibility of bringing the HR-V SUV to India which will be slotted below CR-V and new Civic premium sedan, but it is unlikely to happen anytime soon.
Noriake Abe, Honda's Chief Operating Officer for the Asia and Oceania region, speaking to TOI, said, "It may take at least three-to-four years for the new platform to develop."
Abe stated that the R&D team in India will play a significant role in the development of the new platform, along with teams from Thailand, Brazil, and headquarters Japan. The products derived from the platform will be for India and countries in the Asean region and South America.
Abe also stated that Honda is looking to introduce existing models from the company's global product portfolio. Speaking about Civic and the HR-V, Abe said, "They are being studied."
Currently, Honda has two plants in India and has a capacity of produce around 2.4 lakh units annually. However, the company managed to sell only around 1.4 lakh units in the period of eleven months of this fiscal (April 2016 - February 2017), registering a 21% decline in sales.
Although, Company officials expect a return to growth as new models are introduced, and consumer demand stabilises. Honda believes that Indian market will see healthy growth as the buyers in the country shrug off negatives from measures such as the demonetisation, which impacted the automotive sector.
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