Paultans reported that global sales of two-wheeled vehicles in 2024 will reach around 50 million units. With a long-term goal of capturing 50% of the global motorcycle market share (including electric motorcycles), Honda is focusing on the West Asian (or Southwest Asian) market. Of which, India is the priority market, followed by Indonesia and the Philippines. In addition, there are developing markets in South America, especially Brazil.
The Japanese automaker aims to combine its strategy in India, where it offers four models aimed at the daily-use market. It also expects continued growth in demand for motorcycles in ASEAN countries.
For electric motorbikes, Honda has introduced two global electric models in Indonesia and Vietnam, the CUV e: and Icon e:. In India alone, the company has introduced the electric scooters Active e: and QC1.
In the future, the Japanese automaker will launch its first two electric sports cars: EV Fun Concept and EV Urban Concept, targeting urban customers. Out of the target of 30 models launched by 2030, the Japanese automaker has launched 13 models and achieved its electrification target.
According to the company, the unit is working to reduce the total cost of ownership for electric vehicles in 3 years. To achieve this, Honda is considering building a dedicated electric vehicle factory in India by 2028.
