Honda New SUV Launch: Japanese automaker Honda is preparing to enter the SUV segment again. The company expects to increase its Indian business in the coming times. Honda Cars India President and CEO Takuya Tsumura said the last three years have been tough for the company. He attributed this to the move toward electric vehicles. However, now the company is ready to make a comeback and can launch a new vehicle in the SUV segment. Sumura said that the last few years were tough times for us but now I can say that this phase has passed and the company is in a healthy position now.
In order to boost sales in India, which he described as a crucial market for Honda, the company has opted to reenter the SUV market. Next year, Honda intends to introduce its SUV model to India. It is believed that it could be a sub-compact or mid-size SUV, which can take on the likes of Creta and Brezza.
Honda currently has no presence in the very fast-growing SUV segment in India. In the last few years, Honda has discontinued models like CR-V, BR-V, and Mobilio. Additionally, the business has declared that its Jazz and WR-V models would no longer be produced starting in 2019.
Honda currently sells only City, City EHV, and Amaze models in India. As a result, Honda’s market share in India’s auto industry has decreased from 5.44 percent in the fiscal year 2018–19 to just 2.79 percent today.
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