Honda Cars India, the wholly owned Indian subsidiary of the Japanese automobile manufacturer Honda is planning to grow its contribution to the global sales volume to 5 percent. Currently, the Indian unit accounts for 3 percent of the carmaker’s global sales.
According to Mr. Jnaneswar Sen Senior VP (Marketing and Sales) Honda Cars India, the carmaker sold a total of 1,34,000 cars in the fiscal 2013-14, which is about 3 percent of the Japanese carmaker’s global sales figure 44,00,000. The automaker now plans to increase its global sales to 66,00,000 units by the fiscal 2016-17. As per this target, the Indian subsidiary will be expected to sell 3,00,000 units annually by 2016-17.
The carmaker’s sales in the Indian car market have witnessed a significant growth of 83 percent in the fiscal 2013-14 in comparison to 37 percent growth in the fiscal 2012-13. The growth has been powered by the inclusion of diesel engines to its portfolio and the launch of new and facelift car models such as the Amaze compact sedan and the new Honda City.
Mr. Sen stated that the carmaker will be targeting the Tier III cities in India with the aim of expanding its dealership network and boost sales.
