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Jeet B Bhayani (SEBI RA)

30th Oct · SEBI-Registered Analyst

The Japanese car manufacturer Honda has recognized India as one of its three main global markets for future expansion, alongside the United States and Japan, highlighting the nation's increasing significance in its long-term plans. During his address at the Japan Mobility Show, Honda Cars India’s President and CEO, Mr. Takashi Nakajima, stated that India's strong demand, especially in the SUV segment, serves as a vital foundation for the company's growth. India is the key market for the future. Our motorcycle business is already quite large, and we are currently concentrating on enhancing our four-wheeler brand and sales, he stated. Honda aims to launch three new SUV models in India by FY27, featuring hybrid and electric options, as part of its goal for carbon neutrality by 2050. The company is investigating investment opportunities to boost production capacity beyond its current Tapukara facility, which has an annual output of 1.8 lakh units. Possible alternatives being evaluated are reopening its Greater Noida plant or creating a new site in southern India. Honda Cars India achieved a 20% increase in sales in 2024, with 1,31,871 units sold. The company seeks to capitalize on India's growing SUV market and changing consumer tastes to recover market share and enhance its position in one of the globe’s rapidly expanding automobile markets.

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