Tokyo, Oct 29 (PTI) India has become the largest marketin terms of retail sales for Japanese auto major Honda in theAsia Oceania region in the first half of this fiscal and thecompany is looking to build on the momentum, according to asenior company official.
The Asia Oceania region for the company does not includehome market of Japan and China. India overtook Indonesia thisyear to become its top market in the region.
"We have grown 22 per cent in the first half of thisfiscal and in terms of volumes (retail sales) we have becomethe number one market for Honda in Asia Oceania region," HondaCars India Ltd (HCIL) President and CEO Yoichiro Ueno saidhere.
In the first nine months of this year, Honda's retailsales in India stood at 1,35,501 units as against 1,30,587units in Indonesia.
Sales in India have been driven mainly by the company'snew compact SUV WR-V and its best selling sedan City.
With a view to enhance its position in India, Honda hasannounced that it would launch six new products in the nextthree years and is reinforcing its position as a premium brandto build on its sales momentum.
"There is a shifting of preference in India towardspremium products and since last year we have repositioned ourbrand image. We have also reviewed specification levels of ourproducts in line with consumer demand," Ueno said.
So far, the company has received good feedback from itsconsumers, he added.
When asked about the company's plans for the small carmarket in India, which accounts for over 70 per cent of theIndian market, he said Honda would play on its strength.
"The small car market is very competitive and the marketis gradually shifting upwards to premium, which is ourstrength," Ueno said.
While acknowledging that the small car segment in Indiawas still very large, he did not comment on plans for newmodels in mass market entry level arena.
At present, Honda sells Brio in the compact car segmentin India along with sub-four metre sedan Amaze along withother premium products such as Jazz hatchback and SUVs BR-Vand CR-V and Accord Hybrid besides WR-V and City. PTI RKL SASBT.
This is unedited, unformatted feed from the Press Trust of India wire.
