Honda intends to export 110,000 units this fiscal

Honda Motorcycle & Scooter India (HMSI) is intending to increase its export market by exporting 110,000 units in the current fiscal year. The company exported 80,000 units in the last year. HMSI president and chief executive officer, Shinji Aoyama said," We are not only exporting to developing countries but also to the developed nations of Europe. The company would invest Rs. 500 crore within the next one year into its second two-wheeler manufacturer plant that would be established in Alwar, Rajasthan. Honda is believing to sell over 15 lakh two-wheelers in the current financial year from 12.7 lakh units of two-wheelers sold in last fiscal year. The company's motorcycle sales were at 5.2 lakh units and that of scooter sales were also at 7.5 lakh units in the previous Financial year (2009-10). The company registered 18 percent sales growth in the last year. Besides, HMSI is expecting to continue its 18 percent sales growth in the current FY10, he added. Honda's present Harayana and Manesar plants annual capacity is around 15 lakh units. HMSI has recently launched a new sporty version of Honda Unicorn in the premium segment in the Indian auto market, Honda CB Dazzler. On the other hand, Bajaj Auto has also introduced one another model of its Bajaj Discover in the 150cc segment.