Mid-size sports utility vehicles (SUVs) have become the fast-selling segment in India. The latest entrant in the segment is Honda's new SUV, the Elevate. Currently, Honda Cars India (HCI) has two sedans - the City and the Amaze and both are bestsellers for the Japanese carmaker. Honda chose India for the world premiere of its new SUV for both Indian and global markets. This indicates the country's importance as a launchpad for showcasing international brands.
HCI, is now making its entry into the mid-size SUV market by introducing the Elevate. Bookings for the new SUV will start in July and deliveries will commence during the festive season. While the initial introduction of the Elevate will be in the domestic market, the company aims to establish India an important export hub for the new model. The Elevate is the first SUV among 5 new premium SUVs planned to be launched by Honda in India by 2030. A battery electric vehicle (BEV) based on this SUV is planned to be launched in India within 3 years in line with Honda's global vision towards carbon neutrality.
This story is from the June 12 - 25, 2023 edition of Business India.
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This story is from the June 12 - 25, 2023 edition of Business India.
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