Our strong product line-up will help us cover 80% of India’s premium markets: Honda
Yogesh Mathur, Director of Sales & Marketing at HMSI, tells BT that there is a gradual shift towards the premium segment, driven by factors like increasing disposable incomes, change in lifestyle
- Jul 19, 2023,
- Updated Jul 19, 2023 4:58 PM IST
Honda Motorcycle & Scooter India (HMSI) is gaining in the premium motorcycle market in India with its strong product line-up ranging from 300cc-1800cc in this segment. For enthusiasts of these high-end motorcycles, the company established the BigWing vertical in 2019.
“Considering the strong demand and rapid shift towards premium motorcycles, HMSI will be introducing new models, including in the mid-size segment. HMSI has implemented a well-planned strategy across the markets in India. To meet customer demand, the company has been actively expanding its distribution network for premium motorcycles,” Yogesh Mathur, Director, Sales & Marketing, Honda Motorcycle & Scooter India (HMSI), told BT.
By establishing BigWing dealerships and service centres, HMSI has inaugurated more than 125+ touch points across tier-1 and -2 cities. “The response from the enthusiasts in these markets has been positive and we shall continue to expand the network further. There is a gradual shift towards the premium segment, which is driven by several factors like increasing disposable incomes, change in the consumer lifestyle, their purchasing paradigm, and a growing demand for higher quality, technologically advanced, and comfortable motorcycles,” Mathur adds.
Being a prominent player in the Indian two-wheeler market, HMSI has adapted its strategy accordingly. “With an expanded distribution network and a diverse range of premium models, our goal is to cater to the unique requirements of our consumers in this segment,” he added.
HMSI has a big focus on export markets, too. “The company is not only exporting its world-class products, but it is also manufacturing 250cc and above category engines for global markets from its fourth factory at Vithalapur in Gujarat. At present, HMSI is exporting 18 models across its line-up (from both RedWing and BigWing verticals) to over 38 countries,” he said. The company has extended its presence in the Oceania region by entering Australia and New Zealand, among others. “As part of HMSI’s long-term vision of ‘Make in India for the World’, the company plans to expand its exports to 58 countries, offering 20 models in FY24,” he said.
He said that the company’s focus is on creating premium immersive centres. “The premium segment (300cc and above) has witnessed significant growth, especially post the Covid-19 pandemic. Our aim is to expand our reach and cover top 80% of the important markets (from the premium point of view) in next few years. Currently, our primary focus is on establishing BigWing as a prominent brand and provide immersive experience to customers with our strong range of products,” he said.
When it comes to electrification, in March 2023, the company announced plans of establishing EV business structure in India. “As a company, we are making substantial investments in EV technologies, charging infrastructure, and after sales services. To cater to the increasing demand of electric vehicles, a specialised manufacturing facility, Factory E, is being established at HMSI’s Narsapura plant in Karnataka. Although the demand for EVs in the premium segment is currently not strong in the short term, we will continue to focus with our strong model line-up, however we shall continue to monitor electrification trend in this segment to assess long-term demand,” he said.
Honda Motorcycle & Scooter India (HMSI) is gaining in the premium motorcycle market in India with its strong product line-up ranging from 300cc-1800cc in this segment. For enthusiasts of these high-end motorcycles, the company established the BigWing vertical in 2019.
“Considering the strong demand and rapid shift towards premium motorcycles, HMSI will be introducing new models, including in the mid-size segment. HMSI has implemented a well-planned strategy across the markets in India. To meet customer demand, the company has been actively expanding its distribution network for premium motorcycles,” Yogesh Mathur, Director, Sales & Marketing, Honda Motorcycle & Scooter India (HMSI), told BT.
By establishing BigWing dealerships and service centres, HMSI has inaugurated more than 125+ touch points across tier-1 and -2 cities. “The response from the enthusiasts in these markets has been positive and we shall continue to expand the network further. There is a gradual shift towards the premium segment, which is driven by several factors like increasing disposable incomes, change in the consumer lifestyle, their purchasing paradigm, and a growing demand for higher quality, technologically advanced, and comfortable motorcycles,” Mathur adds.
Being a prominent player in the Indian two-wheeler market, HMSI has adapted its strategy accordingly. “With an expanded distribution network and a diverse range of premium models, our goal is to cater to the unique requirements of our consumers in this segment,” he added.
HMSI has a big focus on export markets, too. “The company is not only exporting its world-class products, but it is also manufacturing 250cc and above category engines for global markets from its fourth factory at Vithalapur in Gujarat. At present, HMSI is exporting 18 models across its line-up (from both RedWing and BigWing verticals) to over 38 countries,” he said. The company has extended its presence in the Oceania region by entering Australia and New Zealand, among others. “As part of HMSI’s long-term vision of ‘Make in India for the World’, the company plans to expand its exports to 58 countries, offering 20 models in FY24,” he said.
He said that the company’s focus is on creating premium immersive centres. “The premium segment (300cc and above) has witnessed significant growth, especially post the Covid-19 pandemic. Our aim is to expand our reach and cover top 80% of the important markets (from the premium point of view) in next few years. Currently, our primary focus is on establishing BigWing as a prominent brand and provide immersive experience to customers with our strong range of products,” he said.
When it comes to electrification, in March 2023, the company announced plans of establishing EV business structure in India. “As a company, we are making substantial investments in EV technologies, charging infrastructure, and after sales services. To cater to the increasing demand of electric vehicles, a specialised manufacturing facility, Factory E, is being established at HMSI’s Narsapura plant in Karnataka. Although the demand for EVs in the premium segment is currently not strong in the short term, we will continue to focus with our strong model line-up, however we shall continue to monitor electrification trend in this segment to assess long-term demand,” he said.