HMSI targets 30% share in Indian two-wheeler market, bets big on women buyers

Honda Motorcycle & Scooter India (HMSI) is aiming to grab a larger chunk of the Indian two-wheeler market, and in that goal, the Japanese auto company is betting big on women buyers. The auto major has revealed that it aims to target a 30 per cent market share in the Indian two-wheeler space by 2030. This is a key part of the OEM's larger goal to achieve half of the global two-wheeler sales in he long term.

Speaking to PTI, HMSI President Tsutsumu Otani has said that the company sees huge growth potential among the female customers, who currently account for just about 10 per cent of the overall industry sales. The company that has been known for making the widely popular Honda Activa range of scooters, is aiming to target women buyers in a larger number to grab a bigger chunk of the Indian two-wheeler market.

Otani also revealed that while the OEM sees a shift from internal combustion engine (ICE) to electric vehicles in the two-wheeler segment in the long term. However, he has pointed out the bottlenecks around EV charging infrastructure and electricity supplies as major impediments to the growth of electric vehicles. "Considering the Indian market size, we want to achieve 30 per cent share in India by 2030," Otani said when asked about the significance of the Indian market in Honda's overall long-term goal to garner 50 per cent of global two-wheeler sales. Currently, HMSI has a 27 per cent market share in the Indian market, while in the ASEAN market, Honda holds more than 80 per cent share.

HMSI betting big on women buyers

Otani noted that Honda sees huge potential to tap female customers in India to increase the company's two-wheeler sales in the country, with increasing women's empowerment and many of them entering the workforce. "In India, the overall two-wheeler usage is mostly male, with 90 per cent, and females just around 10 per cent. It means the potential for two-wheeler sales to grow among the female customers is huge," he said.

When asked about the company's product pipeline programme for the Indian market to achieve the 2030 target, HMSI didn't reveal anything, but asserted that, being a global company, Honda has a range of products in its portfolio, which can be considered for India. Otani said the company will consider a wide range of technologies, including EVs and flex fuels, for the Indian market, considering the different consumer demands in different parts of the country.

Honda had previously stated that it plans to introduce 30 electric models globally by 2030 to achieve the goal of increasing its global annual sales of electric motorcycle models to 40 lakh units by 2030. The company had also said it would strive to capture the largest market share in the electric two-wheeler segment in India, where it will begin operating a dedicated electric two-wheeler production plant in 2028.

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