Honda Cars India plans on working on compact SUVs and sedans to build volumes in India. The Japanese car manufacturer recently unveiled the new generation Amaze on an all-new platform, codenamed 2UA. Recently, Honda unveiled the second generation Amaze at the Auto Expo 2018. The new platform comes out with a feasibility study to explore the potential of getting into multiple SUV space. With a market share of 5.55 percent, Honda Cars India, MD, Yoichiro Ueno said that company would take the share to 10 percent in the future, where SUVs can play a key role in this achievement. Reportedly, the said compact SUV would take on the likes of Maruti Suzuki Vitara Brezza and Hyundai Creta, which is a growing segment in India.
Yoichiro Ueno, MD, Honda Cars India said, "We prefer the SUV space to small cars. The SUV is a growing segment in India, it offers more potential than a small car in the current context. We are studying multiple SUV options on the new Amaze platform."
Currently, the UV space accounts for 25 percent of the overall market and the compact SUV segment has been growing at over 25-30 percent over the past few years, within that space. Honda is planning to target the B SUV market in India and also studying the possibility of bringing in HRV premium SUV for the domestic market.
In its recent attempt with the BRV, that were developed as per the South East Asian market, did not get a good response. However, the WRV still received a better response than expected. According to Honda, models like Amaze, Jazz, WRV and City will play a crucial role in building the volumes for the company in the coming years, and the moles such as Civic, Accord, CRV are more of a premium offerings.
Further, Ueno added that with an all-new Amaze that wouldmake its launch in the second quarter of 2018, it will aim to outgrow the market to about 7 – 8 percent this year.
Source: Economic Times