- Thursday, December 05, 2024
The Japanese carmaker introduced the third generation of its compact sedan Amaze, and plans to introduce three new models by the 2026-27 fiscal
By: Shajil Kumar
JAPANESE carmaker Honda plans to introduce three new models by the 2026-27 fiscal in India as it looks to tap growth opportunities in the robustly growing SUV segment, according to a top company executive.
The company, which is present in India through a wholly-owned subsidiary, currently sells just one SUV model – Elevate – in the market with the other two products being Amaze and City sedans.
“We plan to introduce three new models, with hybrid and electric powertrains by the 2026-27 fiscal thus expanding the company’s presence in the SUV segment,” Honda Cars India President and CEO Takuya Tsumura told PTI in an interaction.
The new models would encompass both hybrid and battery electric powertrains, he added.
The Sports Utility Vehicle (SUV) segment now accounts for over 50 per cent of sales in close to 40 lakh domestic passenger vehicle segments.
Tsumura noted the carmaker continues to develop models, like hybrid and battery electric vehicles, that suit the Indian market.
Honda on Wednesday introduced the third generation of its compact sedan Amaze, priced between ₹799,000 (£7,437.75) and ₹1.09 million (£9,392.60) (ex-showroom).
The model comes with both manual and automatic trims and competes with the likes of Maruti Suzuki Dzire and Hyundai Aura in the compact sedan segment.
“The Amaze has always held a special place in the hearts of Indian customers, and this new generation model reflects our commitment to meeting their evolving needs. We are confident that this new Amaze will set new standards and continue to strengthen Honda’s legacy in India,” Tsumura said.
The company now has advanced driver assistance systems (ADAS) technology introduced in all models in India line up and Amaze is the most affordable ADAS-enabled car in India, he added.
Honda has sold 580,000 units of the Amaze so far in the country.
The first generation of the model was introduced in 2013 while the second generation made its debut in 2018.
When asked about sales expectations for next year, Tsumura noted that the automaker is expecting certain growth to accrue with the new Amaze playing a significant role in it.
Elaborating on the compact sedan segment, Honda Cars India Vice President (Marketing and Sales) Kunal Behl said the vertical still has tremendous scope for growth.
“While the hatchback segment is going down..the Indian consumer wants to go to the next level..to have a three-box sedan. And that is the reason why we believe the segment has a huge potential for growth,” he stated.
The launch of the third-generation Amaze should re-energise the whole lower sedan segment, Behl said.
He noted that 50 per cent of Amaze customers are first-time buyers. (PTI)
