India Is The Biggest Market Of Honda In Asia Oceania
A senior company official of Honda, a Japanese automotive manufacturer, said that India is currently the largest market of the company when it comes to retail sales. This is when looking at the data for the first six months of the fiscal year in the entire region of Asia Oceania. They are hoping to use this fact and create a momentum. Honda is also known for manufacturing Honda motorcycle whichis being sold all over the world.
Honda’s list of countries in the region of Asia Oceania is exclusive of China and Japan. In the previous year, Indonesia was the leading market of the company but India took the crown for the whole region in 2017.
Yoichiro Ueno, the CEO and President of Honda Cars India Ltd, the company has noted an increase of 22 per cent in the first half of the fiscal year and when looking at the volume of retail sales they have accomplished. India is now Asia Oceania region’s top market of Honda.
For the first nine months of 2017, the retail sales of the India branch of Honda reached 135,501 units compared to Indonesia with only 130,587 units sold.
A big part of the sales in India is coming from the recent compact model which is the SUV WR-V together with the best seller model, Sedan city.
Honda is now planning to increase its presence in India through six additional products which they will launch within three years from now. They are also aiming to use its sales momentum to make Honda known as a premium brand in the country.
Ueno said that locals in India are now slowly changing their preference and they chose more of the premium products. This is why on 2016 they decided to change the brand image of the company as a whole. They are also looking into the demand of the consumers when choosing their specification levels.
He is also proud that the company is getting a lot of positive feedback from its customers. The company will also use this chance to strengthen the sector of Honda motorcycle and increase its sales in the process.