japanese car maker company honda Now going to expand its portfolio. Honda, which is preparing to enter the SUV segment again, is expected to increase its Indian business in the coming times. Hoping this, Honda Cars India President and CEO Takuya Sumura said in a conversation with PTI that the company has taken several steps in the last few years to make its business formation ‘healthy’ again.
Sumura admitted in the conversation that the company had to face difficult situations in the last three years. Referring to the policy decision to move towards electric vehicles for this, he said that according to this new vehicle technology there was a need for restructuring of plants and operations.
Honda has had a tough time!
Sumura said as part of the business restructuring process, it was decided to close several of Honda's global plants, including one located in India. "The past few years were tough times for us but now I can say that this phase has passed and the company is in a healthy position now," he said. Describing India as an important market for Honda, he said that the company has decided to enter the SUV segment again to increase its sales here. Honda is working on plans to bring its SUV model to India next year.
Growing SUV demand in the country
Honda currently has no presence in the fast growing SUV segment in India. In the last few years, Honda has discontinued models like CR-V, BR-V and Mobilio. The company has also announced to discontinue its models Jazz and WR-V from next year. Honda currently sells only City, City EHV and Amaze models in India.
In such a situation, Honda's share in the Indian car market has come down to just 2.79 percent as compared to 5.44 percent in the financial year 2018-19. Sumura said, “The SUV market has grown very strongly and now it is almost 50 percent of the total passenger vehicle market. But we do not have any presence in this segment. We are sure that when our SUV arrives next year, our sales will also increase.
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