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The lack of SUV models has negatively impacted production and thus Honda’s market share

Honda Motor India will launch its new sport utility vehicle (SUV) just before the start of the festive season in 2023. The automaker is currently selling models such as City e: HEV (Hybrid), City Fifth Generation, City 4th Generation, Amaze, WR -V and Domestic Jazz. And here is Honda City Price list.

With development for this “India-focused” SUV nearing completion, Honda will begin factory preparations, followed by pre-production operations. Like the company’s other models, the new SUV will be manufactured at the Tapukara plant, located in the Alwar district of Rajasthan.

Honda’s Tapukara plant has an installed annual production capacity of 1,80,000 units. However, the capacity utilization efficiency is currently only above 60%. The company will aim to use full capacity after the launch of the new SUV. Capacity can be increased to 200,000 units if demand increases.

Speaking to India Today, Honda Vice President of Marketing and Sales Kunal Behl said the new SUV will be launched in the Indian market “before next year’s festive season”. Based on Honda’s philosophy of “maximum man, minimum machine”, the vehicle is designed with the customer’s requirements in mind for space, technology, durability and range, he added.

While Behl hasn’t shared details on the new SUV’s specs and powertrain yet, Honda may be considering including a hybrid variant. Consequently, the hybrid is a good powertrain that they’ve tested with the City. He and his company will be evaluating all options when it comes to the new SUV, he said.

Honda is also focusing on the new SUV model to become the third pillar of production after the City and Amaze brands. While the company sold 1,83,787 units in the domestic market in the 2018-19 financial year, its sales fell to 1,02,016 units in the 2019-20 financial year and 82,074 units in the fiscal year 2019-20. financial year 2019-20 in the fiscal year 2020-21. There have been some recoveries to 85,609 units in the 2021-22 financial year.

The lack of SUV options and increasing competition from rival brands have caused Honda to continuously lose market share in the passenger car (PV) segment. From 5.44% in the 2018-19 financial year, the company’s market share dropped to 3.67% in the 2019-20 financial year, 3.02% in the 2020-21 financial year, and 2.79% during the fiscal year. financial 2021-22.

Being out of the SUV segment is something they’re missing out on. But they still believe sedans are still our priority. Although the SUV segment is growing, demand for sedans will grow strongly and Honda is one of them. very important player in the sedan market. That said, we will now explore and progress very strongly in the SUV segment, noted Behl.

For reference, the sedan segment’s share in the PV market was just 10.2% in the 2021-22 financial year, compared to 40.1% for the SUV segment.

Although the new SUV is primarily aimed at the domestic market, Behl said Honda could also consider exporting. Currently, the company exports the fifth-generation City, Amaze, WR-V and Jazz.

At the end of the current financial year, Honda will also discontinue production of the fourth-generation City, WR-V and Jazz. It removed the Civic and CR-V from its lineup in December 2020, when production operations were halted at its plant in Greater Noida, Uttar Pradesh.

Uneeb Khan
Uneeb Khan
Uneeb Khan CEO at blogili.com. Have 4 years of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World. gacorpedia zeus168 olympus globet88 LANGKAHCURANG2024 SLOTGACOR2024 agen89 agen89 bantengjp WDKAN138 WDKAN138 GASKAN138 1win patriot globet88 globet88 maxwin77 macantogel bimagacor mamen4d mamen123

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