Honda Motorcycle & Scooters crosses 5 million sales mark in FY-17, grows by 12%
MUMBAI: Honda Motorcycle & Scooters India has crossed an important milestone of selling 5 million units in a year in FY-17, growing by 12% - at double the market growth of 5% led by strong demand for its scooters.
The company becomes the first subsidiary in Honda Motor Co.'s history to attain a 5 million units sales mark in a year and Honda's fast growing scooter brand Activa too became the largest selling two wheeler brand in India and the world in 2016, claimed the company.
By virtue of selling faster than the market, Honda Motorcycle & Scooter registered its highest ever market share of 27% domestic in FY'16-17 and the brand accounts for the fourth of Indian two wheeler market -- in combined volumes of domestic and exports.
The market share of Honda has more than doubled in the last five years post the break up with Hero. The company added 100 basis points in market in last fiscal year. The company claims Honda was the biggest 'volume gainer' of industry and contributed 54% to the additional industry volumes.
Yadvinder Singh Guleria, Sr VP - sales and marketing, Honda Motorcycle and Scooter India Pvt. Ltd. at the beginning of FY'2016-17 especially after monsoon and 7th pay industry was hopeful of double digit growth, but challenges of demonestisation in the second half pulled down two-wheeler industry growth rate to 5%.
"In this context, we are humbled by the confidence of customers in Honda brand. India is now firmly leading the Honda DNA worldwide. We thank customers for making Honda 2Wheelers India the first 100% subsidiary of Honda Motor Company, Japan globally to ever achieve 5 million sales landmark in a single financial year. Honda is today the highest volume gainer as well as the market share gainer of the industry. We are confident that 2017-18 will be a landmark year and Honda 2Wheelers will change the way India and the world will ride home," said Guleria.
The company closed FY17 with an all time high sales of 5,008,103 units. Honda's total automatic scooter sales crossed 3 million mark for the first time ever to reach at 3,351,604 units with 16% growth compared to 2,892,480 units in FY'15-16. Despite exports de-growing by 6% in FY17, Honda's exports grew by 41%, increasing from 200,114 units in FY'15-16 to 283,153 units in FY'16-17.
The company becomes the first subsidiary in Honda Motor Co.'s history to attain a 5 million units sales mark in a year and Honda's fast growing scooter brand Activa too became the largest selling two wheeler brand in India and the world in 2016, claimed the company.
By virtue of selling faster than the market, Honda Motorcycle & Scooter registered its highest ever market share of 27% domestic in FY'16-17 and the brand accounts for the fourth of Indian two wheeler market -- in combined volumes of domestic and exports.
The market share of Honda has more than doubled in the last five years post the break up with Hero. The company added 100 basis points in market in last fiscal year. The company claims Honda was the biggest 'volume gainer' of industry and contributed 54% to the additional industry volumes.
Yadvinder Singh Guleria, Sr VP - sales and marketing, Honda Motorcycle and Scooter India Pvt. Ltd. at the beginning of FY'2016-17 especially after monsoon and 7th pay industry was hopeful of double digit growth, but challenges of demonestisation in the second half pulled down two-wheeler industry growth rate to 5%.
"In this context, we are humbled by the confidence of customers in Honda brand. India is now firmly leading the Honda DNA worldwide. We thank customers for making Honda 2Wheelers India the first 100% subsidiary of Honda Motor Company, Japan globally to ever achieve 5 million sales landmark in a single financial year. Honda is today the highest volume gainer as well as the market share gainer of the industry. We are confident that 2017-18 will be a landmark year and Honda 2Wheelers will change the way India and the world will ride home," said Guleria.
The company closed FY17 with an all time high sales of 5,008,103 units. Honda's total automatic scooter sales crossed 3 million mark for the first time ever to reach at 3,351,604 units with 16% growth compared to 2,892,480 units in FY'15-16. Despite exports de-growing by 6% in FY17, Honda's exports grew by 41%, increasing from 200,114 units in FY'15-16 to 283,153 units in FY'16-17.
