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Honda Motorcycle and Scooter India (HMSI) has announced its plans for the financial year 2018/19. Honda has also revealed its product strategy for the Indian market in the current fiscal year.
Honda has also stated that the company will launch an all-new two-wheeler and 18 upgraded models for the current lineup. After witnessing 22 percent growth in the previous financial year, Honda is aiming for a double-digit growth for the third consecutive year.
Honda will also invest Rs 800 crore in the current fiscal and plans to expand to 6,000 touchpoints. The Japanese company will also introduce a customer loyalty program called as Honda Joy Club. The Honda Best Deal Network will be expanded to 250 touch points.
President and CEO of HMSI, Minoru Kato said, "India is already the number one contributor to Honda's global two-wheeler business. 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."
Honda is also getting ready for 2020 and has already started working on improving quality and product planning ahead of the BS-VI implementation. Internally, the company has commenced modernisation of production across all the plants.
In 2019, Honda could introduce the all-new CBR250RR which was expected to be launched this year. And talking about the all-new product, it could be a premium 125cc commuter targeting the mass market in the country.
Thoughts On Honda's Plans For India
Honda has been a dominant player in the Indian market with its popular products such as the recently launched Grazia, Activa, CB Hornet 160R and the new X-Blade. Now, Honda has announced its plans for 2018-19. The good news is that the company will launch an all-new product in the country.