Honda sells 4.3 million two-wheelers in FY2023, led by Activa 6G, Shine
Honda Motorcycle and Scooter India (HMSI) reported its sales for the 2022-2023 financial year and the company sold 43,50,943 units in the last fiscal. The manufacturer registered a 14.51 per cent year-on-year growth when compared to 37,99,680 units sold during FY2022. During this period, the company’s domestic sales stood at 40,25,486 units while exports contributed 325,457 units to overall volumes.
However, sales in March witnessed a decline in volumes for Honda as cumulative (domestic + exports) sales stood at 211,978 units, a 31.53 per cent drop when compared to 309,549 units sold in March 2022. Exports increased last month to 14,466 units, a hike of 22.66 per cent over 11,794 units shipped overseas during the same period last year.
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The previous month saw HMSI take a big leap in the mass market space with the launch of the Shine 100. The entry-level commuter motorcycle is Honda’s most affordable yet and takes the fight to giant Hero MotoCorp in the semi-urban and rural space. The company also updated several models to the latest OBD2 complaint norms including the Activa 125 H-Smart, SP 125 and the CB350 range.
Honda also announced its electric vehicle strategy for India in March this year promising two new EVs in 2024. The company will also set up the charging infrastructure including swapping stations to facilitate an easy transition to EVs. The manufacturer though did not disclose details about its upcoming EV but the model is expected to be an electric version of the popular Activa 6G.
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Furthermore, Honda will be expanding its Narsapura plant in Karnataka with a new scooter assembly line to address more demand in domestic and export markets. The manufacturer will also expand its export operations from the current 38 countries to 58 countries in FY2024. The previous fiscal saw Honda begin exports of the SP125 to Australia and New Zealand, while the exports of the Unicorn motorcycle began to Africa. This also marked HMSI’s foray into the African continent. The Honda Dio is the brand’s most exported scooter while the Navi is its most exported two-wheeler.
