Honda Reveals Plans For FY 2018-19

Honda Motorcycle and Scooter India has announced its plans for the financial year 2018-19 which includes the introduction of an all-new model along with new updates for 18 existing models across the current lineup of 25. This is a bit underwhelming in comparison to the last financial year, where Honda launched four new models, the Cliq, the Grazia, the X-Blade and the Africa Twin. The company plans to invest Rs 800 crore during the current fiscal year which will be primarily utilised in improving efficiency at manufacturing plants, getting ready for the BS-VI norms that are set to be implemented from April 2020 and new product launches.

By the end of this financial year, Honda plans to expand to 6,000 touchpoints and increase its best dealer network to 250 outlets. President and CEO of HMSI, Minoru Kato said, "India is already the number one contributor to Honda's global two-wheeler business. Our record sales have set a solid foundation in 2017-18 and Honda two-wheelers India will further consolidate its position in 2018-19 as we get ready to lead the biggest paradigm shift of 2020." Honda registered a 22 per cent growth in the previous financial year and it aims for a double-digit growth for the third consecutive year as well.

Speaking about the company’s performance in 2017-18, Mr. Yadvinder Singh Guleria, Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said, “Honda 2Wheelers India is the only two-wheeler company in the world to grow at a pace witnessed never before, adding 1 million plus incremental customers in a single year. Led by strong demand in both domestic and exports front, Honda’s sales apexed at 6,123,886 units with 22 per cent growth. The aggressive launch of 4 brand new models, new capacity infusion and addition of 500 new outlets propelled Honda’s growth story further and set the solid foundation for future growth.”

Honda has already started upgrading its facilities and is actively working on quality improvement along with product planning ahead of the BS-VI implementation. Also, the company has shared its BS-VI roadmap with its suppliers to ensure a trouble-free upgradation of its product portfolio.