Honda Siel Cars regain fourth position in passenger car sector

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New Delhi, Jul 13: After two consecutive months of decline in market share in April and May, Honda Siel Cars India (HSCI) has once again regained its fourth position in the passenger car industry, behind Maruti Suzuki, Hyundai Motors and Tata Motors, thanks to its recently-launched eighth generation Honda Accord.

Even Ford India has increased its market shares substantially due to new variants and has come to the fifth position behind Honda. This, however, has pushed General Motor India to the sixth place with the company witnessing a negative growth of 6.3% in June.

“There has been a great response to both the variants of newly launched Honda Accord which was absent from the passenger car industry for quite some time. This has helped us to improve our market share,” says Jnaneswar Sen, senior general manager, HSCI. According to Sen, even Honda City has regained its market position, which was under pressure for several months after the launch of Maruti SX4, in the premium sedan segment and this has ensured that the company regains its earlier position in the industry. Market share of Honda increased from 3.17% in April at 3,128 units to 4.45% in June at 4,438 units.

“The new variants of Fusion, launched in April, and the petrol version of Fiesta has helped Ford to widen its product portfolio further and make it more attractive. As a result, we have seen an increase of over 1.30% in our market share in just two months,” says a Ford official. With a market share of 1.95% at 1,926 units, Ford India was at sixth position in the passenger car industry in April. The new variants helped the company to increase its market share up to 3.08% in June at 3,071 units.