Honda India is planning to launch two new utility vehicles in next few years which will help them be a part of the fastest growing segment. The company is developing a multi-purpose vehicle (MPV) codenamed 2NH, which will be based on the Brio platform and will be launched at the end of 2014. A new compact SUV based on the Jazz platform will make its way to Indian market in 2015.
"Our counter attack in India has just begun with the Amaze. We have a lot to do. Small cars, UVs are all under study. The SUV market is the fastest growing segment and we are studying every segment surrounding the UV space, small or premium. You can anticipate some interesting moves from Honda." said Hironori Kanayama, MD, Honda Cars India.
The new utility vehicles will directly compete with Maruti Suzuki Ertiga and other upcoming cars from Nissan, Mahindra, and Ford. The Japanese manufacturer has informed their vendors to gear up for annual volumes of 35,000 units.
"With five new models that come along with a diesel option and having presence in the growing UV space, Honda Cars India is aiming to cross 2 lakh units of sales in FY15. And once the 2-lakh-unit sales is crossed, the company will break into profits after almost 5 years" said a source to ET.