Honda Motor Company Ltd is a Japanese company that started its operation in India as Honda Motorcycle and Scooter India Pvt Ltd in the year 1999. It is a subsidiary company of the Honda Motor Company Ltd. It had initially collaborated with Hero MotoCorp and was known as Hero Honda Motors Ltd. But soon the company ended the joint venture in the year 2010 due to rising differences between both the partners. Since then the company has been operating under the said name. Honda is one of the few companies who have revolutionised the Indian two wheeler market with their variety of products and now holds the second position as a two wheeler manufacturer in the country.
Honda has 4 manufacturing plants in the country, Gurgaon, Tapukara in Rajasthan, Narsapura near Bengaluru, Karnataka and Vithalapur in Gujarat. Honda has seen a drastic change in the number of sales last year with their star product Activa. Activa has ruled the two wheeler market ever since it was launched in the year 2000. Over the years, there have been many launches by the company all of them have managed to be win-win model for the company. Here are few models manufactured by the company:
Buying insurance for Honda two wheelers is very easy. There are many channels through which you can easily buy insurance for a Honda two wheeler. It only makes sense to buy a two wheeler insurance because the number of road accidents especially with two wheelers are increasing every other day. Having an insurance will give you a protection cover which you can use in unfortunate times. Riding a Honda vehicle without an insurance is illegal and riskier. It is mandated by the government that every vehicle traveling on the Indian road must own an insurance. Also riding without an insurance is punishable act and you can be fined for the same. And if the insurance has lapsed or expired not renewing it on time will also cause rise in the premium amount along with a fine on subsequent years.
There are two types of insurance you can buy for Honda two wheelers:
As the name suggests, third-party liability insurance policy only covers the legal liabilities and damages caused to the third-party property or person in an accident or damage. It does not provide any coverage to the vehicle or the owner. A comprehensive cover on the other hand provides cover against all possible situations like theft, accident, personal accident, damages, third-party cover, natural calamities, man-made disasters like fire, protest, riots, etc. the premium for third-party cover is comparatively lesser than comprehensive cover. Because of the coverage capacity of the policy the premium is higher for comprehensive cover.
There a few add-on optional cover on comprehensive policy which will enhance the coverage length on the basic policy. The optional covers are available for extra premium but it is helpful in the long run. The optional covers are;
Shopping for insurance online is easy and convenient as it requires minimum or no paperwork and everything can be processed digitally. You can also compare various insurers and the benefits of the policies and chose the best option that fits your requirement. You can also opt for cashless claim facility at the time of purchasing the insurance. The insurer will have tie-ups with various garages and hospitals where you can avail cashless facility in the event of a medical emergency arising out of an accident or mechanical breakdown of the insured vehicle. Choose you policy wisely after doing a thorough research online because it is a competitive market and you might be losing out on a great deal if you have not done your research properly.
Hero MotoCorp Ltd. is currently betting on its premium motorcycles and 125cc scooters, over entry-level two-wheelers, to support the sales of the company. The sales of the company have not been great due to the general market sentiment coupled with an increase in two-wheeler insurance premium. The minimum personal accident cover for scooters and motorcycles has been increased from Rs.1 lakh to Rs.15 lakh. Also, the Supreme Court asked insurance companies to collect the premium for five years at once. This has led to a significant increase in the insurance premium, which has an impact on two-wheeler sales.
Hero MotoCorp witnessed a growth of 50% in terms of sales in 125cc bikes. Thus, the share of the 125cc segment in the scooter market is equal to 25% and is expected to increase to 50%. The company is also expected to increase its offerings in the premium motorcycle sector. It will gradually enter the middleweight category as well, which is currently dominated by the prestigious manufacturer, Royal Enfield.
3 May 2019
The Japanese motorcycle manufacturer is just inches away from reclaiming the No.1 position of best two-wheeler seller in the country. Honda is currently in the No.2 position on the list but there is only a difference of 12,134 units between Hero and Honda sales numbers.
While Hero had a sales of 694,022 units Honda recorded a sales of 621,888 units. It is exactly a year for Honda where it has crossed the 6-lakh units milestone recording a growth of 16.5%. Hero closed the year with 7.5 millions units which is higher than 6.66 million units in FY 17. While Honda closed the year with 6.1 million units which is much above 5.01 million units which was recorded in FY 17 although these number are the overall sales units numbers. It is already known that Hero has set a target of 10 million volume sales by the financial year ending 2020. This means that Honda although is near in monthly sales, has to gear up to beat Hero to become number 1.
11 May 2018
Hero MotoCorp which is the world’s largest two wheeler manufacturer is ready to launch at least 5 new products this financial year and is all set to fund at least Rs.2500 crore from its capital fund for all the developments in the next two years.
The launch will include two-new scooters and 3 motorcycles. Hero Xtreme,Hero Xpulse and a new refreshed 125cc version of Hero Glamour is the most anticipated bikes from this lot. Hero Maestro Edge and Hero Duet scooters will be relaunched with new powerful versions this year. The company dominates in commuter bikes but lacks performance in its premium range offerings. This move may just help the company to further improve its market capital. With just three models that is Splendor, Glamour and HF Deluxe, the company has a market hold of % in the two-wheeler industry. Honda Motorcycle and Scooter which currently has the best hold in scooter segment is one of the most toughest competitor for Hero in the same segment. With new launches there any be a wave of change for the same.
10 May 2018
It is no doubt that Honda Activa series is one of the top selling mopeds in the country and this has helped the company to achieve great targets over the years. But it’s also true that the company’s other products have been performing not so great as compared to its rival Hero MotoCorp.
But looks like Honda is steadily climbing the ladder to leave behind Hero MotoCorp to reclaim the No.1 position on top bike selling companies in the country. Both the companies are in fierce competition to achieve its target and Hero is pushing hard to hold the No.1 position despite its shortcomings. In the month of April, the sales difference between the two companies are only 12,134 units. Honda has managed to sell 6,81,888 units while Hero sold 6,94,022 units. Though the monthly sales target may seem closer, the annual sales difference is still huge and Hero is clearly a winner there. While Honda can manufacture a capacity of 6.4 units, Hero is capable of manufacturing 9.2 million units. With Honda ready to push Activa with new upgrades, Hero is also launching two new products to keep the numbers going.
9 May 2018
Not only did the company announce a dividend for all its shareholders, Hero MotoCorp is also one of the top two-wheeler selling company for April 2018 as well. The company managed to make sales of 6,94,022 units for April month.
With this amount of sales unit, the company has registered a growth of 16.5% compared to the March 2018. The company also launched new e-commerce platform where genuine Hero mechanical parts and accessories can be sold across the country. To continue holding its position on top, Hero MotoCorp is ready to launch 2 new products into the market soon in the 200cc category with Xtreme 200R and XPluse 200 and both will be one of the most affordable adventure bikes in the country. The company is also targeting towards entering the 250cc-500cc segment which is majorly dominated by Royal Enfield. But the company is currently concentrating on ending this month as well on high notes.
7 May 2018
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