Honda has been consistently biting into the market share of its competitors in the past couple of years. This fiscal, Honda has almost doubled its market share to 26% from the previous 26%.
The company is now planning to launch as many as 10 new products in the Indian marketplace by 2017 to overtake Hero MotoCorp to become the largest two-wheeler manufacturer in India. The new facility in Gujarat will be functional in 2016 and will help the brand with more space for new products. The current installed production capacity of 46 lakh is being almost fully utilised.
Work on these new range of products has already begun at Manesar, at their R&D centre. These 10 product launches could include facelifts as well as brand new models. Honda is also planning to launch low cost motorcycles, which will be the entry level bikes to the Honda brand in India.
In the performance category, we know that Honda is working to introduce the CBR650F, CBR300R and CBR500R in India. Honda is very keen on CKD assembly of high performance bikes to keep a price advantage over competition.
By 2017, the company also plans to expand its dealer network from the current 3,400 touchpoints to 6,000.
Source – Economic Times