Of the 5 million units sold, more than 3 million units were scooters
Honda Motorcycle and Scooter India (HMSI) seems to have had a brilliant financial year 2016-17. With a growth of over 12 percent over last year, the company has managed to cross the 5 million sale milestone – 50,08,103 units to be precise. Last year HMSI registered sales of 4,483,462 units. These numbers mean an all-time high 27 per cent market share for HMSI in the Indian two-wheeler market. While the overall numbers have grown since last year, there has been a considerable growth in the exports as well. In 2016-17, Honda has exported 41 percent more two-wheelers than the previous fiscal despite the fact that the industry has registered a decline in sales of around 6 percent during this time.
Interestingly, of the 5 million Hondas sold in 2016-17, more than 3 million were scooters. This in itself goes to show the kind of hold Honda has on the scooter segment. HMSI has sold 33,51,595 scooters in the said duration as opposed to 28,92,480 in the same time frame last year. Of course, a huge number of these scooters were Activas, which has now become the highest selling two-wheeler, not just in India but world over.
Yadvinder Singh Guleria, Senior Vice President - Sales and Marketing, Honda Motorcycle and Scooter India Pvt. Ltd. said, “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.”
Hero Motocorp meanwhile, continues to hold majority market share in the two-wheeler space as they recorded their best ever sales of 66,63,903 units in 2016-17. While there is still a considerable gap between the top two players, Hero has recorded a meagre 0.47 percent growth this year while Honda has grown at an impressive 12 percent – 7 percent higher than the industry growth – this could surely be a cause of concern for Hero.