Honda Motorcycle and Scooter India announced that they plan to double their premium motorcycle portfolio under its Big Wing vertical. The company plans to manufacture they motorcycles locally and then export them to international markets.
Honda plans to enhance its high performance motorcycle line up with an additional six models that will range between 300cc and 1,800cc. Motorcycles that are high in demand, like the CBR300R will also be manufactured locally in order to offer the best possible price value.
Three of the seven premium motorcycles sold by Honda are imported as kits, and assembled in India. The other four are imported as completely built units. The company also wants to develop a bigger export footprint via the locally manufactured Big Wing motorcycles under its 'Make in India for the World' plan.
Mr Yadvinder Singh Guleria, the Senior Vice-President for Sales & Marketing at HMSI said that sales under the Big Wing banner has grown four times over to about 100 units every month. The company plans to expand its Big Wing network to 75 cities over the next couple of years.
Honda also said that they were planning to take advantage of the disruption caused by the BS-VI regulations that come into effect on 1 April 2020. The company has plans to capture a larger share of the Indian markets.
Mr Noriaki Abe, the Chief Officer at Honda Motor Company said that regulations in India were changing at a rapid pace, and that every change that is coming could be an opportunity for Honda.
The company is confident of grabbing the opportunity and making the best of it, and a majority of the confidence is based from the fact that Honda has proven BS-VI compliant technology in its global portfolio while its competitors in India have not.
Honda seems to be confident of their future plans for the Indian subcontinent, however the company's sales (during the current financial year) figures have declined 18.7 percent against the industry's decline (collective) of 16.2 percent.
Thoughts About Honda Wanting To Double Their Premium Motorcycle Portfolio
This is a smart move by Honda. The premium motorcycle segment is doing well despite the slowdown in the industry. Manufacturing in India will allow for Honda to offer performance motorcycles at a more affordable price, thereby increasing sales.