Honda Elevate: In September 2023, Honda Cars India recorded a domestic sales figure of 9,861 units, compared to 8,714 units during the same period last year, marking a positive growth of 13.2% on an annual basis. With a market share of 2.5% in the total manufacturer’s sales chart, Honda maintained its position at seventh place with a 0.2% increase.
The month of August 2023 witnessed a growth of more than 25% on a monthly basis for Honda, compared to the previous month. This increase was primarily due to the strong sales numbers achieved by the recently launched Honda Elevate. The midsize SUV segment had been eagerly awaiting Honda’s entry, and the Elevate SUV has proven to be worth the wait.
The Honda Elevate is priced between INR 11 lakhs and INR 16 lakhs (ex-showroom), positioning it against competitors such as the Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser, Volkswagen Taigun, Skoda Kushaq, and MG Astor. In the previous month, a total of 5,685 units of the 5-seater SUV were sold, contributing to 58% of Honda’s overall sales.
In August, the Elevate achieved double the sales compared to the previous month, with a total of 2,822 units. It has surpassed models like the Amaze and City, assisting the brand in achieving an annual growth rate of over 13% for multiple consecutive years. In the first half of the fiscal year 2024, Honda reported a total sale of 37,658 units, witnessing a 20% decrease year-on-year compared to 47,163 units.
Honda’s Elevate SUV has played a crucial role in driving their sales growth in August and September. It is based on the same platform as the 5th generation City and is powered by a 1.5-liter NA four-cylinder VTEC petrol engine, delivering a maximum power of 121 PS and peak torque of 145 Nm. The engine is mated to a 6-speed MT and CVT transmission. This midsize SUV incorporates design elements from Honda’s global SUV lineup, such as the WR-V and CR-V, and comes equipped with features like a floating 10.2-inch touchscreen infotainment system, dual-tone cabin theme, ADAS technology, and six airbags for safety.
Overall, Honda’s Elevate SUV has made a significant impact on their sales performance, contributing to the brand’s growth and expanding their presence in the competitive Indian SUV market.
Summery:
– Honda Cars India reported a domestic sales growth of 13.2% in September 2023 compared to the same period last year.
– The company sold a total of 9,861 units in September 2023, compared to 8,714 units in the same period last year.
– Honda’s market share in the total manufacturer sales held the seventh position with a growth of 0.2%.
– The sales growth was mainly due to the recently launched Honda Elevate, which performed well in the midsize SUV segment.
– The Honda Elevate is priced between 11 lakhs to 16 lakhs and competes with Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser, Volkswagen Taigun, Skoda Kushaq, and MG Astor.
– The company sold a total of 5,685 units of the Elevate in September 2023, contributing 58% to the overall sales.
– In August 2023, Honda sold a total of 7,880 units of the Elevate, showing a month-on-month growth of over 25%.
– The Elevate has surpassed models like the Amaze and City, helping Honda achieve growth of over 13% on a year-on-year basis.
– In the first half of the financial year 2024, Honda reported a 20% decline in sales with 37,658 units sold compared to 47,163 units in the previous year.
– However, the positive growth of the Elevate’s sales in August and September will play a significant role in increasing the brand’s overall sales in the remaining part of the financial year.
– The Honda Elevate is based on the same platform as the fifth-generation City and is powered by a 1.5L NA four-cylinder VTEC petrol engine.
– The engine produces a maximum power of 121 PS and peak torque of 145 Nm, coupled with a 6-speed MT and CVT transmission.
– The midsize SUV features a design inspired by global Honda SUVs like WR-V and CR-V, and comes with features like a 10.2-inch infotainment system, dual-tone cabin theme, ADAS technology, and 6 airbags.
