HONDA PLANS TO MAKE INDIA STRATEGIC HUB FOR EXPORTS

Yash Sapra, INN/Gwalior, @infodeaofficial

Indeed 2020 has been a traumatizing year for our economy and the economy of the rest of the world but it has also provided our country with new opportunities for our economy. Through The recent reports, it has been discovered That depends on the cars have decided to make India a strategic pub for Exports, making it a key business unit as it plans to begin shipments to left-hand drive markets in the West for the first time. The company which previously refused to focus on exports from India,  now she’s this as an integral part of its operations especially as this has the potential to help drive production as its factories at a time when the domestic market doesn’t look so promising or business in the given challenging circumstances. The new version of the city Sedan would be exported to various left-hand drive markets as part of this initiative,  joining the export bandwagon which previously comprises models such as Amaze entry sedan and WR-V hatch That word being shipped to South Africa and other neighboring countries,stated Gaku Nakanishi, President and CEO of Honda India.

Honda has an installed capacity of 2.8 lakh units in India and this is divided between its two factories the first one at Greater Noida in Uttar Pradesh and the second at Tapukara in Rajasthan. India passenger vehicle sales of Honda cars stood at just over one lakh units in 2019 to 20 declining by 44%, while exports word negligible at 3774 units down 21% in volumes, according to the numbers provided by Siam. The Company wants to put this gap between installed capacity and actual sales through the Extra push provided by Exports. This is the strategy followed by its compatriot Nissan In India. By the end of this year, Honda will be adding new export destinations and left-hand drive markets for the first time ever. While The company’s primary focus continues to be on the domestic market,  with this new overseas we expect the export volumes to almost double in this financial year. The company also hopes that currency fluctuations can be balanced through such an exercise. It is not only cars that Honda exports out of India.  It has a substantial business of exporting components out of its India units and last year it did a business of rupees thousand crores by selling India made parts overseas.