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Honda Motorcycle & Scooter India (HMSI) has crossed a very important landmark. The Indian subsidiary of Honda Motor Co. has officially crossed the 5-million mark in domestic market sales. It is the first Honda subsidiary to achieve such a feat in only a year. In 2016-17, the manufacturer sold a record 50,08,103 units, up 12 percent year on year.
Aside from its laudable domestic performance, the company also saw an increase in exports, with a stunning 41 percent increase from the 2015-16 financial year’s numbers. The company exported 200,114 units in 2015-16 FY, which grew to 283,153 units in the last FY. Coming back to the domestic market, HMSI sold a record 50,08,103 units, up 12 percent year on year in 2016-17. Talking about the company's performance, Yadvinder Singh Guleria, senior vice-president (sales and marketing), said, “Early in FY 16-17, especially after the monsoon and 7th CPC [Central Pay Commission], the industry was hopeful of double-digit growth. The second half was, however, a challenging time and the two-wheeler industry closed the fiscal with only five percent growth. Honda is today the highest volume gainer as well as the market share gainer of the industry.”