Honda Aims To Capture 40% Of Global Bike Market

New Delhi: Honda Motor Company has announced that for the current fiscal year ending March 31, its global motorcycle unit sales are expected to reach 20.2 million units, which is approximately a 40 per cent share of its global sales.

The Asian market, including India, Indonesia, Thailand and Vietnam, accounts for 85 per cent of global unit sales (17.17 million units), and Japan, Europe and the US markets account for 6 per cent (1.2 million units), the company said at a press briefing by top Honda executives in Tokyo.

The Japanese auto giant said it is envisioning further growth in global demand for motorcycles, mainly in the region referred to as the “Global South,” which consists of: Southwest Asia, whose largest market is India, as well as Indonesia, the Philippines; and Brazil and other Central and South American countries.

Regarding its India business, Honda Motor Company said it has steadily increased sales volume and the largest market share is now within reach. The company has plans to set up an electric motorcycle plant in India by 2028.

With this expected trend, the industry-wide global motorcycle sales, currently at a scale of 50 million units, is projected to grow to 60 million units by 2030, including electric vehicles.

In order to respond to this market growth and increased demand with certainty, Honda will continue introducing more competitive products, pursue carbon neutrality through various measures including electrification and further solidify its motorcycle business, with a long-term target to capture a 50% share of the global motorcycle market including electric motorcycles.