Honda 2Wheelers India ends the Financial year on a high note, breaks records
Honda 2Wheelers India, HMSI, ended their fiscal year 2016-17 on a historic record breaking high, setting newer and much higher records in the current cut throat market. The Activa became the international Number one selling two-wheeler, in 2016.
Mr. Yadvinder Singh Guleria, Senior Vice President of Sales and Marketing for HMSI shared the highlights of the company’s performance in FY 16-17 saying,“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 ended FY 2016-17 on their highest total sales with 5,008,103 units. The total sales hit a 12% growth rate, doubling and adding the difference in the 5% total industry growth rate over the same period, on the 4,483,462 units that were sold in FY 2015-16.
HMSI’s boosted growth brought it to the title of Number 1 volume gainer in the industry as well as the Number 1 market share gainer in the industry. The company itself added a whopping 54% to the additional industry volumes, and was the only company that gained 1% market share with 27% in domestic, and a 25% in total sale, in FY 2016-17.
The total sales for their automatic scooters went beyond the Three Million mark and reached 3,351,604 units and 16% growth compared to the 2,892,480 units that were sold in FY 2015-16. This was the first time Honda crossed the 3 million mark in these sales.
Even though the export industry went back in growth with -6% in FY 2016-17, the Honda 2Wheelers India’s major gains happened through exports and grew by a massive 41%, going from 200,114 units exported in FY 2015-16 to a high of 283,153 exported units in FY 2016-17.