Thursday 19 September 2019
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business-standard - 9 days ago

Economic slowdown one of biggest reasons for 2-wheeler sales slump: Honda

The current economic slowdown in India is one of the biggest reasons for the slump in two-wheeler sales and with vehicle prices expected to go up due to BS-VI transition next year, the industry will face more challenges, according to a top official of HMSI. Hike in insurance premium from September 2018, expectation of GST reduction by customers and wait for bigger discounts on BS-IV vehicles have also contributed to the decline in sales, Honda Motorcycle and Scooter India (HMSI) President, CEO and MD Minoru Kato said. He was speaking at the launch of the company s first BS-VI compliant model Activa 125 scooter. Its price starts at Rs 67,490 (ex-showroom), which is 10-14 per cent costlier than the BS-IV compliant model. The industry was expecting recovery when customers began understanding the benefits of insurance premium increase but the expectation of a GST reduction and slowdown in Indian economic fundamentals have further led to demand slump, Kato told reporters here at the ...


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