Honda Civic and Accord premium sedans in Rs. 10 to Rs. 25 lakh price range used to sell appreciably for a few years after launch. But introduction of SUVs in the same price range and shift in fuel type preference from petrol and diesel shook the market and withered off petrol only- Honda Civic and Accord.
There was a time when entry-level premium sedans were favoured, but now it is either a German premium car like Audi A3 and Mercedes CLA, or an SUV like Q3, GLA and Toyota Fortuner, that top the list for those who wish to spend between Rs. 20 and Rs. 30 lakhs. Below that, there are compact crossovers overshadowing the sedans.
Buyers of premium products are now inclined towards increasing introduction of new entry-level models from the three famous German luxury car makers. And on the other side of the Rs. 10 to Rs. 20 lakh price bracket, new compact crossovers are emerging screaming space and value for money.
But Honda has the means and motive to re-enter this space, but is waiting for the perfect opportunity – timing. The automaker believes that Indian market too will become just like Japanese and Chinese, and demand for pricey cars will spring back.
Bottom line, Indian market is susceptible to change, which Honda Car India is counting on, to re-introduce Accord and Civic, just like Jazz. The company’s official recently spoke about the possibility of starting Civic, Accord production in India in an interview with Economic Times