The sales of Honda India is dripping downwards in recent times. Hence, the company plans to introduce new models to boost their sales.
The sales when compared to the previous fiscal years, Honda Cars India Ltd, has dropped down and the main reason of it is the heavy competition from its rivals. Another reason may also be the new entries into the Indian market. Specially Maruti India and Hyundai are giving a tough challenge for Honda India.
Maruti is also the Japanese Manufacturing company as Honda. The consumers are more attracted towards the rivals than Honda India. The cost may be one of the factors. The Honda cars India Ltd. have decided to launch their new versions to the existing models by 2018-19 fiscal years so that the sales are back on track.
The company plans to launch Crossover models more for the success. Unofficially, there is news in the Automobiles market that already there are plans regarding the developing of new generation compact car models like Brio, Amaze sedan, Accord and CR-V.
The company mainly has its grip over the market with its models City, Jazz and Amaze in full swing of sales. The company’s passenger vehicle market was dropped to 6.8% from 7.2% when compared to its previous year sales. The Jazz and Amaze which were seeing strong sales has also seen downfall due to its rivals new models at a cheaper rate.
In order to tackle the cost effective factors, techniques are being planned to use more locally manufactured parts. The company will also commence exports of the new Brio back to Japan following the footsteps of Maruti Suzuki India Ltd. which commenced the export of the Baleno.