Honda Motorcycle & Scooter India (HMSI) on Wednesday announced its business mantra for FY16: retain leadership with Activa; expand production capacity by 39% in two years; and create a new premium distribution format in 20 cities for its forthcoming flagship model, the CBR 650F, among other initiatives.
“Our retain-expand-create strategy will make HMSI future-ready to grasp the opportunity of selling to 64 lakh customers by end-2016,” Keita Muramatsu, President & CEO, HMSI, and president, Honda Motor India, said in Delhi.
“We will focus our synergies to ‘retain’ and consolidate our existing leadership position in the automatic scooter and 125cc motorcycle segment. Further, we will significantly invest in fortifying our production capacity to 64 lakh units by the end of 2016…” Muramatsu elaborated. Yadvinder S Guleria, senior vice-president, Sales & Marketing, HMSI, added, “In FY15, we grew more than double the industry growth. In fact, HMSI contributed 60% to the 11.8 lakh volume increase by industry.”
He added HMSI will invest Rs 1,775 crore this fiscal to expand two-wheeler production capacity and launch new models. In FY15, HMSI sold 44.5 lakh units and is eyeing to sell 47 lakh units this fiscal.