Honda is aiming to clock over 60 lakh two-wheeler sales in the current financial year. The company recently increased its production capacity at the Mysore plant to help meet this target.
Honda sold 50.08 lakh two-wheelers in the last financial year, reflecting a growth of 11.7 per cent over FY2015-16. This was despite the drop in sales post the announcement of demonetisation. With the increase in overall production capacity to 64 lakh units, Honda is optimistic about breaching the 60 lakh milestone in the domestic market in the current financial year. The company is also planning to launch 500 new touch points across the country, focussing on rural areas and Tier-II cities.
India now has become the biggest production base for Honda worldwide with an annual capacity of 64 lakh units. It has even shot past Indonesia being Honda’s biggest two-wheeler market. In the first quarter of 2017-18, domestic sales accounted for 32 per cent of the brand’s global sales. The domestic sales for the April to July period in this year experienced a growth of 20 per cent over the corresponding period in the last year. The company is bullish about dethroning Hero MotoCorp as the country’s largest two-wheeler manufacturer by 2020.
