Honda Motorcycle & Scooter India (HMSI), the No 2 two-wheeler maker, today said it has crossed the 5-million sales milestone in fiscal 2017, wherein it drove incremental industry volume by a full 54 percent. The achievement, first for a Honda subsidiary ever, comes after two big shocks for the industry — the November 8 note-ban and the last week’s Supreme Court ban on selling BS- III models after March 31. Also Read - Car makers Hyundai, Kia invest $300 million in OlaAlso Read - 5G could improve safety of self-driving cars: Gartner
“We clocked the highest ever volume of crossing 5 million mark at 5,008,103 units sales, clipping at 12 percent in the just concluded fiscal 2017. As against this the industry grew only 5 percent in the year. This has added 200 bps to our market share to 27 percent. “We contributed as much as 54 percent of the incremental industry volume in the year,” Yadvinder Singh Guleria, senior vice-president for sales and marketing at HMSI said in a statement.
HMSI had sold 4,483,462 units in fiscal 2016 and had a market share of 25 percent. However, despite the upto Rs 22,000 discounts it offered, its retail dispatches declined by 4 percent in March to 3,65,973 from 3,81,524 a year ago. The year also saw the company’s flagship Activa scooter becoming the world’s largest selling two-wheeler model, he said, adding since March HMSI has only been making BS-IV and AHO units. ALSO READ: Honda vehicles to get pricier by Rs 10,000 from next month
Honda is today the highest volume gainer as well as the market share gainer in the industry. We are confident that 2017-18 will be a landmark year and we will change the way India and the world will ride home, he added. On the performance of the automatic scooter sales, he said the volume crossed the 3 million mark for the first time to reach at 3,351,604 units, clipping at 16 percent compared to 2,892,480 units in fiscal 2016. While the industry as a whole saw exports de-growing by a negative 6 percent in the year, HMSI was the only one standing out with an overwhelming 41 percent increase in volume from 2,00,114 units in fiscal 2016 to 2,83,153 units in fiscal 20177, Guleria said. ALSO READ: Honda WR-V to start shipping to overseas market; Brazil first on the list