As per the reports submitted by the Society of Indian Automobile Manufacturers (SIAM), Japan based automotive manufacturer Honda Motorcycle and Scooter India (HMSI) is currently aiming to beat Bajaj Auto in the Indian Automotive market.
Market statistics suggest that Bajaj Auto has traded 1,815,590 units (decrease in growth by 1.89 %) from April 2017 to February 2018 period, whereas HMSI sold 1,801,390 units (elevation in growth by19. 42% than the previous year).
Sales & Marketing head of HMSI, YS Guleria commented, “The financial year 2017-18 is shaping up as a historic year for HMSI. For the first time, Honda created a new record by adding 1-million plus incremental customers and exports too have breached the 3 lakh mark in less than one year. At the Auto Expo, Honda unveiled its transformation theme showcasing the league of LEDs and the all-new motorcycle X-Blade, which the company has already started dispatching. This sales momentum and trust of customers in Honda 2Wheelers India will add new wind as we are entering the next financial year.”
In the previous financial year from April 2016 to Feb 2017, HMSI sold 1,451,417 units, whereas Bajaj Auto traded 1,849,942 units creating a net difference of 398,525 units. The number has now narrowed down to 14,200 units in the April 2017 to February 2018 period.
It is expected that HMSI may occupy the second position in the motorcycle manufacturing market beating Bajaj Auto.
The sudden rise of HMSI in the automotive market has come after introducing its latest model 110cc-125cc executive segment. Honda CB shine became an overnight hit with the crowd selling almost 905,501 units in April 2017-February 2018 surging the growth by 27.77%. However, its rival company Bajaj Auto failed to maintain its sales and faced an estimated loss of 5.87%.
In the 200cc-250cc category, the tables were turned. Bajaj Auto made large profits by selling 5,405 units, while Honda Motorcycles managed to sell only 4 units.
