Honda 2Wheelers India witnessed 7th straight month of positive YoY sales growth as it ended February 2021 with 30.54% growth in domestic sales compared to the same month last year. The domestic two wheeler market is projected to have a double digit growth this year owning to a low base BSVI transition last year but Honda is confident of outperforming the industry average.
Last month, the Japanese two wheeler giant dispatched 411,578 units in the domestic market which is 96,293 units more than what it managed in February 2020. The MoM figure dropped marginally by 1.23% but then February has 3 less days compared to the preceding month.
As far as export markets are concerned, Honda witnessed a 16% YoY growth as BSVI models started gaining traction in overseas markets as well. 31,118 units were shipped last month compared to 26,736 units in February 2020. Overall, Honda 2Wheelers India clocked 442,696 units last year, an increment of over 1 lakh units compared to the same month last year (YoY growth of 29.44%).
In February 2021, Honda 2Wheelers India expanded its BigWings premium dealership footprint by inaugurating three new outlets in Thane, Siliguri and Vadodara. With this, Honda now has 18 BigWing outlets in addition to the 5 BigWing Topline (retails the brand’s entire range of 300+ cc models). More outlets are set to be added in due course as the company is looking to maximize the potential of its new Honda CB350 lineup.
Speaking of the CB350, a sportier variant called the CB350RS was introduced last month. The retro-classic motorcycle which debuted in October 2020 also crossed its 10,000 sales milestone last month.
With first-in-segment features like assist and slipper clutch, and Honda Selectable Torque Control, the CB350 emerges as a very attractive proposition, especially at a starting price of INR 1.96 lakh (ex-showroom). The motorcycle is sitting on huge number of bookings and Honda is working to increase the production capacity and decrease the waiting period.
February 2021 also marks Honda’s achievement 1.5 crore sales milestone in South India which establishes it as the leading motorcycle brand in that part of the nation. The company also claims to have become the first choice of 70 lakh families in North India.
Buoyed by the success of its new 350 cc motorcycle, Honda is gearing up to augment its well priced premium motorcycle portfolio. Rumors suggest that the company is getting ready to introduce the Honda CB500X medium displacement adventure tourer in April 2021.
Likely to be imported a a CBU, the motorcycle will slot between the KTM 390 Adventure and Kawsaki Versys 650 with a final balance between performance, features and affordability. Based on its reception, rest of Honda’s popular 500 cc lineup could make it to our shores eventually.