Honda aims for Indian expansion
According to the CEO of Honda India Cars, Katsushi Inoue, the company is targeting expansion in the Indian small car market.
Honda Cars India had already announced the commissioning of a brand new R&D facility at its manufacturing unit at Greater Noida. This would take care of development and car design. Japanese car company Honda Motor Company (HMC) has already sold high volumes in the country, particularly for major vehicles like the City and Amaze. Honda is now considering new launches to capture the small car market in India.
Customers will naturally want to buy Honda cars in the compact hatchback segment if they are priced competitively according to market experts. According to Inoue, demand should be reasonably strong in India and the market will witness growth over the long haul. The younger generation drives the Indian market and this will lead to positive progress over time. He also talked of how new cars in the compact car segment and other segments would be launched by the company in 2016 going by customer demands. Honda will look to sense market trends and develop products accordingly.
When it comes to the Indian market, Inoue talked of how cab aggregators and other players were not a threat for automobile companies as owning a vehicle is always considered special here. In cities like New York or even Tokyo, these companies would pose a direct threat to the business of automobile companies but not in India.