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Honda Aims for 40% Global Bike Market Share, India at the Heart of Growth

Honda aims for a 40% global bike market share, with India central to its expansion. The company plans electric bike growth and steady market share increases by 2028.

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Honda aims to capture 40 pc of global bike market as India sales fuel growth Photograph: (IANS)

Honda Motor Company has set ambitious goals for the current fiscal year, predicting global motorcycle unit sales of 20.2 million, capturing approximately 40% of its global sales. The Asian market, particularly India, is central to this growth strategy.

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85% of Honda's Global Motorcycle Sales Come from Asia

The Asian region, including India, Indonesia, Thailand, and Vietnam, continues to be the driving force behind Honda’s sales. In fact, these countries account for 85% of Honda's global sales, with 17.17 million units sold. Japan, Europe, and the US, on the other hand, contribute only 6% to the company's total sales, amounting to 1.2 million units.

India: A Key Player in Honda's Motorcycle Expansion

India plays a crucial role in Honda’s strategy, being the largest market in the "Global South" alongside Indonesia and the Philippines. Honda has experienced steady growth in India and aims to increase its market share further. The company plans to establish an electric motorcycle plant in India by 2028, signaling its commitment to the electric vehicle (EV) market.

Global Motorcycle Sales to Reach 60 Million by 2030

As Honda looks to the future, the company anticipates significant growth in the global motorcycle market. With global sales currently at 50 million units, Honda projects the market to expand to 60 million units by 2030. This increase includes electric motorcycles, and Honda plans to meet demand by launching 30 electric two-wheeler models by 2030.

Honda's Global Production and Profit

Honda's two-wheeler business is already thriving, with an operating profit of $3.6 billion for the fiscal year ending in March 2024. The company produces more than 20 million units annually at 37 facilities across 23 countries. As Honda continues to solidify its position in the motorcycle industry, it targets capturing a 50% share of the global motorcycle market, including electric models.

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