Honda Motorcycle and Scooter India (HMSI), the second largest two wheeler maker that is looking to expand its reach in the country's two wheeler segment, is planning to export its latest offering CB Hornet 160R to South America.
While speaking to ET Auto, Keita Muramatsu, HMSI's India chief executive, shared the company's roadmap for 2016. Honda, which holds 57% market share in the scooter segment and 15% in the motorcycle segment, is laying out its plans to target urban and young urban youth with its new offering such as Honda CB Hornet 160R.
HMSI is expected to produce 4.6 million two-wheelers in the ongoing fiscal year and is hoping to expand it to 5.3 million units in the next fiscal year, 2016-17. Honda currently exports about 1,80,000 units to other markets. The report adds that Honda has plans to export its new BS-IV compliant motorcycle CB Hornet 160R to South America, but the company maintains that the primary focus in on the domestic demand.
"Our first focus is the domestic market," ETAuto quoted Guleria as saying. "We will enhance export only if the local demand falls."
Honda also has plans to roll out the refreshed models of its existing product line-up in the country next year and will launch one product every month. Honda will be equipping its models with Combined Brake System (CBS) and Antilock Braking System (ABS) to meet BS-IV emission norms. The company's new Gujarat plant with annual capacity of 6 lakh units will start operations by January end.