Honda Motorcycle and Scooter India (HMSI) has been registering an impressive growth in the past few years. Speaking to Economic Times, Shinji Aoyama, Global COO, Honda 2 Wheelers, stated that India is poised to become the automaker’s largest two wheeler market next year, overtaking Indonesia.
He said that India will catch up with Indonesia this financial year with an estimated sales volume of 4.5 million units and could emerge as the top market for the brand in the following fiscal since Honda is facing a decline in volumes in Indonesia.
Speaking about HMSI’s attempt to snatch the No. 1 crown in India from Hero Motocorp which is currently the world’s largest two wheeler maker by volume, Mr. Aoyama said that it may happen in the next three years or may not, but the gap is surely going to reduce further.By 2020, Honda expects its Indian subsidiary to account for 7-8 million units per annum.
Moving forward, Honda 2 Wheelers is targeting to achieve global sales of 20 million units per annum by 2020 of which India is expected to account for 7-8 million units. HMSI’s focus will be to keep dominating the mass market automatic scooter segment in addition to addressing the demands of the country’s youth in the motorcycle segment.
Honda has already snatched market leadership from Hero Motocorp in many key regional markets and the competition between the two stalwarts would be an interesting one to watch in the coming years.