Honda Cars India is aiming for a 35 per cent growth in sales in the second half of 2023-24 over the same period last financial year with the launch of its SUV Elevate.
The Japanese company has only two products from its portfolio, the City and the Amaze, in India so far.
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The Elevate has been developed by the Honda R&D Asia Pacific Centre in Thailand as an Urban Freestyler and has been packaged for the lifestyle customer, said Kunal Behl, vice-president, marketing and sales, Honda Cars India.
"The mid-size SUV segment will grow at a 21 per cent CAGR over five years. It is the fastest-growing segment with a growth of 34 per cent from April to August. And so Honda has rightly placed itself in this segment with a nicely packaged product."
