HONDA CARS INDIA LTD
Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.
SUVs roar on country roads as sales from rural India sees a spike
Hyundai Motor's top three cars sold in rural India during January-April 2024 were all SUVs, nudging out the small car Grand i10 from the podium for the first time. SUVs such as Exter, Venue, and Creta accounted for two-thirds (67%) of Hyundai's rural sales in the first four months of the calendar year.
Japanese automakers least prepared for EV transition: Think-tank
The four automakers with the lowest proportion of forecasted EV production in 2030 are all from Japan (Suzuki at 10%, Honda at 24%, Toyota at 29% and Mazda at 30%), with Toyota, Mazda and Suzuki all receiving the lowest performance, says InfluenceMap in its latest report titled, “Automakers and Climate Policy Advocacy: A Global Analysis.
Gujarat car enthusiast transforms Honda Civic into Rs 9-crore Lamborghini Terzo for just Rs 12 lakh: Watch video
Indian car enthusiast Tanna Dhaval impressively converted a Honda Civic into a Lamborghini Terzo Millennio, captivating the internet. Dhaval's meticulous year-long project, documented on his YouTube channel, incurred Rs 12.5 lakh in costs. Despite challenges like sourcing parts and replicating Lamborghini's wheels, Dhaval's creativity shines through, with added touches like a custom logo and India's flag, showcasing innovation and national pride.
Bad news for hybrid car buyers, good for EV sector: GST Council may not give tax relief for hybrid cars in next meeting
The govt may not discuss tax concessions for hybrid cars in the next GST Council meeting, affecting companies like Maruti Suzuki and benefiting electric car makers like Mahindra and Mahindra. Transport minister Nitin Gadkari had requested a GST reduction on hybrid cars to 12%.
Ignored by desis, small cars are driving Made in India ambitions elsewhere
India's car market shift towards SUVs impacts small car and sedan sales, despite being crucial for exports. Maruti Suzuki leads in exports, shipping to diverse destinations. Hyundai's exports include Verna, Aura, and Grand i10Nios. Price hikes and SUV preference lessen small car demand, but industry anticipates a revival by 2026-2027.
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Small cars will be big again, says Maruti Suzuki
Maruti Suzuki anticipates a recovery in small car sales due to economic growth. The company aims to capitalize on this trend by introducing new models to cater to diverse customer segments and enhance vehicular safety standards. Small-car sales fell 12% in FY24.
India new land of rising sun for auto exports
India's auto industry attracts global players like Honda and Suzuki for exports, with a focus on quality and cost efficiency. The country's emergence as a key manufacturing hub reflects its appeal to major auto manufacturers.
Automobile exports from India dip 5.5% in FY24
India's automobile exports fell by 5.5% in FY24 due to global monetary crises, with overall exports totaling 45,00,492 units. SIAM President Vinod Aggarwal cited volatile overseas markets and foreign exchange issues. While commercial vehicles, two-wheelers, and three-wheelers declined, passenger vehicles marginally increased. Recovery in Jan-Mar signals better prospects ahead.
Ambassador, Honda, Isuzu D-Max: Union Transport Minister Nitin Gadkari declares ownership of 3 cars in election affidavit
Union Road and Transport Minister Nitin Gadkari declares ownership of three vehicles in his 2024 Lok Sabha election affidavit, including a 1994 Ambassador, a 2016 Honda CRV, and an Isuzu D-Max. With values listed, Gadkari also discloses his wife's vehicle possessions. Meanwhile, Gadkari, renowned as the "Highway Man of India," seeks a third term representing Nagpur amidst an electoral battle against INC's Vikas Thakre, as the city gears up for April 19 voting.
Small cars likely to stage a comeback by 2026 amid rising entry-level incomes, says Maruti Suzuki chairman RC Bhargava
Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases.
Car buyers may finally get relief from rising prices and long delays soon. Get ready for era of discounts & offers. Here's why
Customers are set to benefit from an automotive market resurgence with attractive discounts and offers in the new financial year. Despite a record volume in the current fiscal year, industry experts predict a potential slowdown in 2024-25 due to decreased demand and rising inventories. The new financial year is bring an era of attractive discounts and offers.
Earlier, it was about functionality in a car, now it is about aspiration: Shashank Srivastava, Maruti Suzuki India
Shashank Srivastava reflects on Maruti Suzuki's evolution, from its significant contributions to the Indian manufacturing sector to adapting to changing consumer trends like the rise of SUVs and EVs amidst a shifting market landscape. When Maruti came and so many investments came in, a large production base was built; a lot of vendors shifted there for production.
Honda Elevate crosses 20,000 sales mark
"We have maximised the production of the Elevate to serve our waiting customers as early as possible and adjusted the variant mix to align with the market demand which is overwhelmingly high for CVT variants currently," Honda Cars India Director (Marketing and Sales) Yuichi Murata said.
Volkswagen Passenger Cars India to hike prices from January
Volkswagen Passenger Cars India aims to raise prices by up to 2% starting January 1, 2024, citing escalating input and material expenses. Following suit with other manufacturers, Volkswagen will pass on some of these increases to consumers, despite efforts to absorb most of the rising costs. The price hike will affect their range, including models like Virtus and Tiguan, priced between Rs 11.48 lakh and Rs 35.17 lakh.
BMW India to hike car prices up to 2 pc from Jan 1
BMW India sells a range of luxury vehicles, starting from the BMW 220i M Sport to the BMW XM, priced between Rs 43.5 lakh and Rs 2.6 crore.
Honda Cars to hike prices of its entire model range from January
Maruti Suzuki, Mahindra & Mahindra and Audi India have also announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates.
Hybrid cars surpass electric vehicle sales in India's auto market
New car buyers are taking a penchant for the handful of hybrid vehicles currently on sale in Indian market such as Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, Honda City and Toyota Innova Hycross.
Honda Cars wholesales climb 24 pc to 8,730 units in November
Exports grew by over four-fold at 3,161 units last month as against 726 units in the year-ago period, it added. "Our product line-up saw a good surge in demand throughout the festive period. Our new SUV Elevate has been well received by the market with very high customer consideration," HCIL Director (Marketing and Sales) Yuichi Murata stated.
Used i10, Swift top pick among first-time buyers: Here are the other most popular old cars in India
First-time car buyers are increasingly opting for pre-owned cars. The rise in demand can be attributed to a change in government policies, leading to a preference for petrol cars over diesel. The average age of pre-owned car buyers is 32, and women now account for 32 percent of the demand. Popular models in the pre-owned market include Hyundai Grand i10, Maruti Suzuki Swift, and Renault Kwid.
Honda Cars posts 17 pc increase in sales in October
Honda India's domestic sales stood at 9,400 units last month as against 9,543 units a year ago. Exports grew to 3,683 units last month as against 1,678 units in October last year, it added.
Honda launches 'Elevate' at Rs 11 lakh; plans to roll out electric version of model soon
Honda Cars India has entered the mid-sized SUV segment with the launch of its new model, the 'Elevate' which is priced between Rs 10.99 lakh and Rs 15.99 lakh. Honda plans to introduce five more SUVs in India by 2030 and is also looking to launch a battery-electric version of the Elevate in the next three years.
Honda Cars sales up 1% in August to 7,880 units
Honda Cars India reported a 1% increase in sales in the domestic market, with 7,880 units sold in August. The company's exports, however, declined by 7% to 2,189 units during the same period. Honda Cars India Director Marketing and Sales, Yuichi Murata, expressed optimism about the strong festive demand and expects it to continue in the coming months.
Honda Cars sales decline 28 pc in July
Honda Cars India on Tuesday reported a 28 per cent decline in wholesales in the domestic market at 4,864 units in July. The company had dispatched 6,784 units in the domestic market in July 2022, Honda Cars India Ltd (HCIL) said in a statement.
India to be first country in world to sell Honda Elevate
India will be the first country to manufacture and sell the all new Honda SUV Elevate globally. Honda's latest SUV had its global unveiling on Tuesday at an event held in New Delhi.
Honda looks to drive in six new SUVs in next eight years
Takuya Tsumura, president of the Indian car-manufacturing unit of Japan’s Honda Motor Co, said the Elevate will be the company’s “strong entry into the booming SUV segment”.
Honda to hike prices of Amaze, City by upto 1 pc from June
The Amaze is currently priced between Rs 6.99 lakh and Rs 9.6 lakh while the City range including strong hybrid trims are tagged between Rs 11.55 lakh and Rs 20.39 lakh (ex-showroom Delhi). The price increase activity would not have any impact on the strong hybrid trims of the mid-sized sedan.
Honda Cars reports 33 per cent dip in domestic sales in April
Exports stood at 2,363 units last month, it added. The company shipped 2,042 units in April last year. "Our sales results for the month of April are in line with our plan," Honda Cars India Ltd Director (Marketing and Sales) Yuichi Murata said in a statement.
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