Japanese auto major Honda plans to launch three models, including multi-purpose vehicle (MPV) Mobilio, by the end of the next fiscal in India to strengthen its position.
The company is also considering full-scale development of a small car, possibly the next generation of its hatchback Brio or Jazz in India, as it looks to cater to the specific needs of the customers in the country.
“By the end of next fiscal, we will be expanding the range of vehicles...We’ll also launch three new models, which will include Mobilio,” Honda Motor India president and CEO Yoshiyuki Matsumoto said at the Tokyo Motor Show. “We believe, India is globally one of fastest growing market. In April, we launched Amaze and it resulted in major change of our market share. Last year, our market share was 2-3%, this year it is getting close to 4-5% range.”
In the coming three years through the models it will launch, it is aiming to sell 3,00,000 units in India, he added. When asked if Honda planned to develop cars in India, Matsumoto said: “...developing small car fully in India, let’s say may be next Brio series or next Jazz, that is something that is being considered.
Renault keen on MUV, sub-R4 lakh car segment in India
French auto manufacturer Renault is keen to tap the potential of the fast growing multi-utility vehicles (MUV) segment in India apart from having a presence in the sub-R4 lakh car market in the country. The company that sells five models in the Indian market is looking for nearly 90% growth in sales this year, riding on its popular SUV Duster and also bring variants of the model by next year.
“The objective now is to make sure that in the next introduction of cars, we want to enter the significant segments or growing segments where we are not present today,” Renault Chairman of Asia Pacific Region Gilles Normand said at the sidelines of the Tokyo Motor Show.
“One of the segments which is growing in India is MUV segment, which is fast growing. So it is one of the possibilities,” he said. Another possibility, he said, is the below R4 lakh segment, which accounts for 40% of the Indian passenger car market. “These two segments are quite important for us...We are definitely working on the next wave of products, out of which one will be connected to a fast growing segment in India and the other