India Key Market For Future Growth, Along With US, Japan: Honda

Japanese auto major Honda considers India a key market for its future growth alongside the US and Japan, according to Honda Cars India President and CEO Takashi Nakajima.

The Tokyo-headquartered automaker, which operates in India through a wholly owned subsidiary, plans to drive in more SUVs in the country, as the segment continues to see robust sales across varied price points.

"Our top management has decided to focus on India among the three key markets for Honda's future growth, alongside the US and Japan," Nakajima told reporters here in an interaction on the sidelines of the Japan Mobility Show.

Nakajima noted India is one of the most promising and exciting markets in the world currently.

"Considering the future, India is the most important market…Our two-wheeler business is already very big in the country, and we are aiming to follow a strong growth direction for our four-wheeler business by building both brand and volume," he stated.

Nakajima said the company's stance regarding India has undergone a change since the last couple of years.

"Maybe three years ago, we were not like that. But now we are focussing on concentrating much on India. Considering the future business expansion, India is the most important," he stated.

Elaborating on the focus areas for the company to grow car sales in India, Nakajima said the company is looking to expand its model lineup in the country.

Nakajima said the company would focus on both internal combustion engine-powered models as well as electric and hybrid powertrains going ahead "Gradually, we will increase the share of battery electric vehicles and battery vehicles as we aim for carbon neutrality by 2050," he added.