Honda Plots EV Plan In India To Regain Marketshare
News
Honda is gearing up for an electric vehicle (EV) push in India as it looks to regain its market share in the country. The company has confirmed the launch of an all-new electric SUV in the first half of 2026, marking a significant step into the rapidly growing EV segment.
SUV and Sedan Sales
In March 2026, Honda sold 10,036 vehicles, a 18% decline from the same period last year. Domestic sales stood at 7,585 units while exports contributed 2,451 units. The drop is notable as March is typically a peak sales month.
Market Performance
Honda’s sales figures for FY26 paint a similar picture of decline. While domestic sales have remained relatively stable, export numbers have plummeted significantly, leading to overall lower volumes.
Model-Level Sales:
- Amaze: 3,449 units in January 2026
- Elevate: 2,243 units (expected to compensate for the City’s decline)
- City: Just 501 units in January, a steep drop from its former strength.
Competing in an Evolving Market
The company faces challenges due to the aging product lineup compared to competitors. The City competes with models like the Maruti Suzuki Ciaz and Hyundai Verna, while the Elevate struggles against multiple SUV options from rivals like Maruti, Hyundai, Tata, and Mahindra.
Honda’s EV Strategy
Honda aims to counter these challenges by introducing its first global electric SUV in India. This move demonstrates their commitment to the Indian market and the growing demand for electric vehicles.