TL;DR
HMSI achieved 13% sales growth in FY24, driving future strategy including premium models, rural expansion, and a push into EV two-wheelers in India.
Honda Motorcycle & Scooter India (HMSI) concluded Fiscal Year 2024 with a robust 13% growth in total sales, underscoring its strong market position in India's highly competitive two-wheeler segment. This significant performance is attributed to a strategic focus on expanding its premium product portfolio, strengthening its network in rural markets, and continued innovation in both ICE (Internal Combustion Engine) and EV (Electric Vehicle) offerings. HMSI is leveraging this momentum to further its long-term growth strategy, which includes plans for new model launches, enhanced production capacities, and a dedicated push towards electric mobility solutions. The company is actively investing in R&D to develop India-specific EV models and build the necessary charging infrastructure. With a diverse range of scooters and motorcycles, HMSI remains a key player, continuously adapting to evolving consumer preferences and regulatory landscapes to maintain its leading position.