Honda's Bold Vision: Capturing the Indian Two-Wheeler Market by 2030
Honda is aiming for a 30% share of the Indian two-wheeler market by 2030, focusing on female consumers and electric vehicles. Despite current challenges in charging infrastructure and electricity supply, Honda plans to explore diverse technologies, including EVs and flex fuels, to achieve its goals.
- Country:
- India
Japanese auto giant Honda has set its sights on capturing a substantial 30% share of the Indian two-wheeler market by 2030, according to a senior company official. The strategy aligns with Honda's broader global goal of achieving half of its two-wheeler sales worldwide in the coming years.
Speaking to press agency PTI, Honda Motorcycle & Scooter India (HMSI) President Tsutsumu Otani highlighted the significant growth potential among female consumers, who currently comprise just a tenth of India's total market. Otani also emphasized a future transition from internal combustion engines to electric vehicles, identifying infrastructure and electricity supply as immediate hurdles.
While Honda already commands a commanding presence in the ASEAN region with an 80% share, its Indian arm, HMSI, currently holds a 27% stake. The company is also gearing up to launch a dedicated electric vehicle plant by 2028 and plans to introduce 30 electric models globally to boost sales.
(With inputs from agencies.)
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