Honda Cars Company India, Takuya Tsumura, President and CEO, said that the Elevate is the first of five SUVs that the company plans to launch in India by the end of the decade.
Speaking to the media at the global premiere of the Honda Elevate, Takuya Tsumura, President and CEO, Honda Cars Company India said, “The Elevate is the first of five SUVs that the company plans to launch by the end of the decade. The company will start taking bookings for the Elevate from July and the vehicle will be launched in the upcoming festive season.
“We have planned a very strong product strategy for India. We plan to have five SUVs by 2030. While India will be a major market for the Elevate, it will also be a major export hub for the model in future. Honda Cars Company India This is in line with the global direction and we plan to bring the electric version of the Elevate to market in the next three years," Tsumura said.
Elevate is the first of the 5 new premium SUVs that Honda will launch in India by 2030. A Battery Electric Vehicle (BEV) based on this SUV is planned to be launched in India within 3 years, which is in line with Honda's global vision of carbon neutrality.
At the beginning of the year, Honda Cars India had shared its plan to introduce a new model every year in the Indian market from 2024 onwards. It will also include hybrids and EVs.
Honda's entry into the mid-SUV segment comes at a time when SUVs have emerged as the largest segment in the fast-growing Indian passenger vehicle market, accounting for more than 40 per cent of the total market.
Honda Elevate features
Elevate features a 1.5-litre petrol engine and gets a full range of active and passive safety technologies including Honda Sensing's Advanced Driver Assistance System (ADAS) and will be placed in the mid-size SUV market (above four metres) which has become , the 2nd largest sub segment in the market. The model will take on the likes of the Hyundai Creta, the Kia Seltos and the Maruti Suzuki Grand Vitara.
Even though the overall passenger vehicle market has slowed down to single digit growth, the SUV segment is expected to grow by over 10 per cent in the current financial year. Industry experts say around 1.9 million SUVs are likely to be sold in FY24, which accounts for an overall contribution of around 45-46 per cent.
The company says that the Elevate will be the third major pillar for the Indian market and will help it build its presence in the fast growing segment.
Source:Autocarpro
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