In an effort to increase its market share in the Indian two-wheeler market, Honda Motorcycle & Scooter India (HMSI) is making a significant wager on female consumers. The automaker has announced its goal of capturing a 30% market share of the Indian two-wheeler sector by 2030. This is a crucial component of the OEM's broader objective of capturing half of the world's two-wheeler market share over the long run.

Tsutsumu Otani, the president of HMSI, told PTI that the firm sees enormous potential for development among female customers, who now make up only around 10% of total industry revenue. In order to capture a larger share of the Indian two-wheeler market, the firm that has been known for producing the popular Honda Activa line of scooters is now focusing on attracting more female customers.

Otani also disclosed that the OEM anticipates a move away from internal combustion engine (ICE) cars toward electric vehicles in the two-wheeler market over the long run. However, he has emphasized that the biggest obstacles to the expansion of electric vehicles are the bottlenecks in electricity supplies and EV charging infrastructure. When asked about the significance of the Indian market in Honda's overall long-term objective to capture 50% of the worldwide two-wheeler sales, Otani stated, "Considering the Indian market size, we want to achieve 30 per cent share in India by 2030." In the Indian market, HMSI now has 27% of the market, while Honda has over 80% of the market share in the ASEAN region.

HMSI targeting female consumers

With more women entering the labor force and gaining more power, Honda sees a lot of room to grow its two-wheeler sales in India by targeting female consumers, according to Otani. "Ninety percent of all two-wheeler use in India is male, while only ten percent is female. It signifies that there is a lot of room for two-wheeler sales to increase among female consumers, according to him.

When asked about the company's product pipeline plan for the Indian market in order to meet the 2030 target, HMSI remained silent but emphasized that, as a worldwide corporation, Honda has a variety of products in its portfolio that may be taken into account for India. Considering the varied consumer demands across the nation, Otani stated that the company would consider a wide range of technologies, including EVs and flex fuels, for the Indian market.

In order to accomplish its aim of boosting its worldwide annual sales of electric motorcycle models to 40 lakh units by 2030, Honda has previously stated that it plans to launch 30 electric models worldwide by 2030. Additionally, the business stated that it would work to gain the greatest market share in India's electric two-wheeler industry, where it plans to start manufacturing specialized electric two-wheelers in 2028.

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