Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Porsche Korea, Honda Korea and three other auto companies will voluntarily recall over 23,000 vehicles to fix faulty components, the transport ministry said
Honda Motorcycle & Scooter India on Tuesday reported a 34.5 per cent decline in total sales at 2,11,978 units in March 2023 as compared to 3,23,434 units in the same month last year. Domestic sales were at 1,97,512 units last month as against 3,09,550 units in March 2022, Honda Motorcycle & Scooter India (HMSI) said in a statement. Exports were higher at 14,466 units as compared to 13,884 units in the year-ago month, it added. HMSI said it closed 2022-23 with total sales of 43,50,943 units, a growth of 14 per cent over 2021-22.
Honda Cars India on Saturday said its domestic sales increased by 2 per cent to 6,692 units in March. The company had dispatched 6,589 units to dealers in March 2022, the automaker said in a statement. Exports stood at 3,189 units last month as compared with 2,243 units in March 2022, it added. The company said its domestic wholesales rose 7 per cent to 91,418 units last fiscal, as compared with 85,609 units in FY22. The automaker exported a total of 22,722 units during 2022-23 as compared with 19,401 units in 2021-22, registering 17 per cent growth, it added. "The company has achieved a domestic sales growth of 7 per cent, driven by the strong and positive sales momentum of our models, specifically the Amaze and City," Honda Cars India Director, Marketing and Sales Yuichi Murata said. Despite the persistent challenges posed by the global chip shortage and its impact on production volumes, the Indian automobile industry has had one of its strongest years in terms of sales, he ...
Marc Marquez will continue his recovery from surgery on a broken first metacarpal of his right hand
Honda is recalling more than 330,000 vehicles because heating pads behind both side-view mirrors may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash. Vehicles included in the recall are 2020-2022 Odyssey, 2020-2022 Passport, 2020-2021 Pilot and 2020-2021 Ridgeline. The National Highway Traffic Safety Administration said that the vehicles don't comply with the necessary rear visibility requirements. Honda dealers will replace the side-view mirrors on impacted vehicles free of charge. Owner notification letters are expected to be sent out on May 8. Vehicle owners may contact Honda customer service at 1-888-234-2138 or the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236.
Kunal Behl, VP, Honda Cars India said that there are also plans to re-launch an SUV in the first half of the next fiscal year to ride on the booming segment in the country
Honda is recalling a half-million vehicles in the U.S. and Canada because the front seat belts may not latch properly. The recall covers some of the the automaker's top-selling models including the 2017 through 2020 CR-V, the 2018 and 2019 Accord, the 2018 through 2020 Odyssey and the 2019 Insight. Also included is the Acura RDX from the 2019 and 2020 model years. Honda says in documents posted Wednesday by U.S. safety regulators that the surface coating on the channel for the buckle can deteriorate over time. The release button can shrink against the channel at lower temperatures, increasing friction and stopping the buckle from latching. If the buckle doesn't latch, a driver or passenger may not be restrained in a crash, increasing the risk of injury. Honda says it has no reports of injuries caused by the problem. Dealers will replace the front seat belt buckle release buttons or the buckle assemblies if needed. Owners will be notified by letter starting April 17.
Shine 100 may help HMSI close in on market leader Hero
Amid the ongoing financial crunch in Pakistan, another car maker company Honda on Wednesday announced to close its plant citing severe disruption in supply chain as major reason, reported Geo News
Japanese auto major Honda plans to launch at least one new model every year in India with a focus on premium products as it looks to get its business on track in the country. The company, which on Thursday introduced an updated version of its mid-size sedan -- City, plans to focus on products which are over Rs 10 lakh price tag powered by petrol and hybrid powertrains. The company, which is present in India through a wholly-owned subsidiary, plans to do away with diesel models in the country. In a press briefing, Honda Cars India President and CEO Takuya Tsumura said the company would focus on the Rs 10 lakh and above segment over the next few years. "In the passenger vehicle segment more than 40 per cent sales are coming from models priced over Rs 10 lakh. We expect this to grow more. Our focus would be on model introductions in over Rs 10 lakh segment," he noted. Tsumura said that for Honda models like Amaze and City, top trims currently contribute over 60 per cent of the sales.
Honda Cars India on Wednesday reported a 15 per cent year on year dip in sales in the domestic market at 6,086 units in February. The company had sold 7,187 units in the domestic market in February 2022, Honda Cars India Ltd (HCIL) said in a statement. Exports declined to 973 units last month as compared with 2,337 units in the year-ago period, it added. "Our sales performance in the month of Feb'23 has been as per our plan towards seamless transition of our models to new emission norms," Honda Cars India Director Marketing and Sales Yuichi Murata said. The company is currently gearing up for the launch of the new City, he added. "We are confident that it will generate new excitement and appealing options for customers," Murata noted.
For innovation to power economic growth, Indian industry must raise its investment in in-house R&D five-fold
It also announces 100cc bike to compete with Hero MotoCorp, Bajaj Auto & TVS Motor in low-end segment
The new car will be sold first in the US in 2026 and pre-orders are said to open in 2025, reports The Verge
Public sector Indian Bank has tied up with automaker Honda Cars India Ltd towards offering financing solutions to its customers, the city-headquartered bank said on Friday. This partnership would allow customers to bring home their favourite Honda vehicles through financing options provided by the bank. "The association with Honda Cars India Ltd will allow us to provide faster financing to a large number of our customers across the country." Indian Bank retail-assets general manager Vikas Kumar said. "We are confident that our digital loan procedure, will provide customers who want to acquire a new vehicle for themselves and family, ease and comfort at its best." he said. The financing options would be available across 5,700 branches of the bank present in the country. "The collaboration with Indian Bank seeks to provide all Honda customers with simple financing options, as well as best-in-class ownership experience and assistance," Honda Cars India Ltd vice-president marketing an
Honda Cars India (HCIL) on Friday said it has tied up with Indian Bank to provide vehicle finance for its customers. The partnership will offer easy loan disbursement, reasonable interest rates, special offers, flexible policies and simplified process, the company said in a statement. The customers can avail financing benefits across over 5,700 branches of Indian Bank and HCIL dealer network across the country, it added. ********* MBRDI, Mercedes-Benz India partner for electric vehicle module course at RV College of Engineering * Mercedes-Benz Research and Development India (MBRDI) on Friday said it has partnered with Mercedes-Benz India to introduce an all-new electric vehicle module in its Advanced Diploma Automotive Diploma (ADAM) course offered at RV College of Engineering in Bengaluru. MBRDI has also contributed a high-tech EV lab to upskill the talent pool in the country and support the industry as it transitions towards electric mobility, the company said in a statement.
Japanese car maker Honda on Friday said it is planning to increase prices of its entire model range by up to Rs 30,000 from January to partially offset the impact of rising input costs and prepare products in compliance with upcoming stricter emission norms. The company, which is present in the country through a wholly-owned subsidiary, joins the likes of market leader Maruti Suzuki, Hyundai, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor, who have also made the year-end announcements to hike prices from the next month. "After assessing the consistent increase in the input cost of raw materials and upcoming regulatory requirements, we will have to undergo a price revision for our products from January 23. The increment will be in the range of up to Rs 30,000 and vary from model to model," Honda Cars India Vice President (Sales and Marketing) Kunal Behl told PTI. As per the second phase of BS-VI emission regulations, to be effective from April 2023, vehicles will
Honda Cars India on Thursday said its domestic wholesales increased 29 per cent to 7,051 units in November 2022 as compared to the same month last year. The company had dispatched 5,457 units to dealers in November 2021. Exports last month stood at 726 units as compared with 1,447 units in the year-ago period. Riding on the back of relatively better economic prospects, the demand for cars has continued well post the festive season and this momentum is also visible in our sales numbers, Honda Cars India Director, Marketing and Sales Yuichi Murata said in a statement. The company is positive that the trend will continue and it will be able to cater to the growing demand as the country goes back to the pre-pandemic mode, he added.
Honda Cars India on Monday said it has tied up with Maruti Suzuki Toyotsu for vehicle scrapping. The initiative will allow Honda to offer its customers an end-to-end solution for scrapping their End of Life Vehicles (ELVs). With this tie-up, the Japanese automaker strives to assist its customers to get the best value for their ELVs and facilitate hassle-free deregistration and issue of Certificate of Deposit/ Destruction through its dealer partners, Honda Cars India Ltd (HCIL) said in a statement. Maruti Suzuki Toyotsu India (MSTI) is a government-approved ELV scrapping and recycling company, which is setting up scrap and recycling centres in the country. The service alliance will begin in Delhi NCR, Haryana and Uttar Pradesh. The coverage area will expand with the addition of new scrappage centres by MSTI in future. "The Vehicle Scrappage Policy by Government of India stipulates scrappage and deregistration of old vehicles to promote phasing out of unfit vehicles from the roads,
Honda Cars India on Tuesday reported a 18 per cent increase in domestic wholesales at 9,543 units in October. The company had dispatched 8,108 units in the domestic market in October last year. The automaker said it exported 1,678 units last month, as against 1,747 units in the year-ago period. "This festive season has been remarkable for us as we registered a healthy growth of 18 per cent in our domestic sales in October. Our dealer network has been buzzing with activity during this period, witnessing strong demand for all our Honda models," Honda Cars India Director, Marketing and Sales Yuichi Murata said in a statement. The improvement on the supply side benefited the automaker to realise this result, he added.