Japanese auto major Honda Motor Corp on Wednesday revealed that the company is planning to launch three new models in India by the end of the next fiscal year. The three new models will include a multi-purpose vehicle (MPV) Mobilio.
Honda which aims to sell three lakh units of its vehicles in India in the next three years also said that the company is looking to expand its manufacturing capacity in the sub continent.
"In the coming three years, through the models that we'll be launching, we aim to sell three lakh units in India. In the whole of Asia, we aim to sell 12 lakh units, half of which will come from India and Indonesia combined," The Hindu quoted Yoshiyuki Matsumoto, President and CEO of Honda Motor India.
In addition to this, the company is also looking at the possibility of a full-scale development of small cars in India, considering the huge demand for such cars in the domestic market. The company witnessed a growth of 63 percent in April-October with its family car Amaze, when compared to the corresponding period last year.
"We believe, India is globally one of the fastest growing markets. In April, we launched Amaze... resulting in a big boost to our market share. Last year, our share was 2-3 per cent, this year it is getting close to 4-5 per cent," added Matsumoto.
Considering India is a potential market for two -wheelers, the company is also said to be concentrating on motorcycles.
Talking about the motor cycle market, Honda Motor Company Managing officer Hiroshi Kobayashi said: "This year putting India and Indonesian market combined, we are producing 8.5 million units of motorcycles. If you'll look at this comparing to Honda's overall sales, which is 15 million units, India and Indonesia take over 50 per cent, and if you compare with the Asia market, which is 13 million units, India and Indonesia take about 60 per cent. Our production in the coming three years from India and Indonesia put together, we will probably produce and market 10 million units of motorcycles."