Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) closed financial year 2016-17 on a historic high and created new records in challenging market scenario.
Sharing highlights of Honda’s performance in FY’16-17, Mr. Yadvinder Singh Guleria, Senior Vice President – Sales and Marketing, Honda Motorcycle and Scooter India Pvt. Ltd. said,
“In the beginning of FY’2016-17 especially after monsoon and 7th CPC, industry was hopeful of double digit growth. The second half was however a challenging time and two-wheeler industry closed the fiscal with only 5% growth. In this context, 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.”
Honda 2Wheelers India closed FY’2016-17 with all time high total sales of 5,008,103 units.
Total sales grew at 12% (which is more than double the 5% growth of total industry in the same period) over 4,483,462 units sold in FY’15-16.
Honda’s accelerated growth made it the No. 1 volume gainer of the industry (Honda 2Wheelers India alone contributed 54% to the additional industry volumes) & No. 1 market share gainer of the industry (Only company to gain 1% market share to 27% in domestic and 25% in total sales in FY’16-17).
Honda’s total automatic scooter sales crossed 3 million mark for the first time ever to reach at 3,351,604 units with 16% growth compared to 2,892,480 units in FY’15-16.
Despite export industry de-growing by -6% in FY’16-17, exports was the strongest gain point.
Honda’s exports grew by an overwhelming 41% increasing from 200,114 units in FY’15-16 to 283,153 units in FY’16-17.