Honda (NYSE:HMC) says global motorcycle sales this fiscal year ending March 31 will be 20.2 million units, 40% of total sales. Asia (India, Indonesia, Thailand, and Vietnam) is 85% (17.17 million units), Japan, Europe, and US is 6% (1.2 million units) says top Honda executives at Tokyo press briefing.
Honda says global motorcycle demand will grow, and mainly in the "Global South" which includes: Southwest Asia (India, Indonesia, Philippines), and Brazil and other Central and South American countries.
For India business, Honda Motor Company says sales volume is growing and market share is within reach. Plans to set up electric motorcycle plant in India by 2028.
With this trend, global motorcycle sales of 50 million units now will grow to 60 million units by 2030 including electric vehicles.
To respond to this market growth and demand with confidence, Honda will introduce more competitive products, achieve carbon neutrality through electrification and solidify motorcycle business and aim to capture 50% of global motorcycle market including electric motorcycles.
Honda plans to launch 30 electric two-wheelers by 2030 to meet its EV sales target of 4 million units per year.
Honda two-wheeler business made $3.6 billion operating profit for the year ended March 2024. It produces over 20 million units per year in 37 plants in 23 countries and regions.
The company also said it is looking into the possibility of relocating its Mexico plant due to potential tariffs by US President Donald Trump. Honda Motor Co produces around 9,000 units per year at its Mexican plant which is exported to US. “Of course there will be an effect. We’re considering relocation as an option but no decision has been made,” said Minoru Kato, executive officer in charge of Honda’s motorcycle business.
