Honda bullish on 43 per cent sales growth for 2013-14

Honda Motorcycle & Scooter India (HMSI) has made its ambitions loud and clear: to achieve an astounding 43 per cent growth and sell 39.3 lakh units in FY2012-13 -- up from 27.54 lakh units the previous fiscal. This, it plans to achieve through new product launches and addition of manufacturing plants -- Honda's upcoming third plant in Karnataka is expected to be operational by the first quarter of the ongoing fiscal. The company will also add 500 dealerships thereby expanding its overall dealer and service network by over 2,500.

While elaborating on the company's plans, Keita Muramatsu, President and CEO, HMSI reportedly told PTI, "In FY 13-14, HMSI aims an overwhelming 43 per cent jump in its sales based on introduction of new products and rapid expansion on all fronts from production capacity to network and manpower." 

Honda registered a growth of 31 per cent in the last financial year with 27.54 lakh units sold compared to 21.07 lakh units in the corresponding period. Of these, motorcycle sales grew an impressive 49 per cent -- from 8.64 lakh units to 12.92 lakh units while scooters sales grew 18 per cent to 14.63 lakh units.  

Honda has invested Rs 1,000 crores in its new facility in Karnataka and once the new facility becomes operational its overall capacity in India will touch 40 lakh units from 28 lakh units annually. The Japan based two-wheeler manufacturer appears well on its way to achieving its target if its sales growth of 15 per cent in March 2013 is any indicator of where it's headed. Related: Japanese bike makers rack up high sales; Indians stutter