Honda introduced the Elevate SUV, the company’s take on the midsize SUV segment. The automaker also announced its SUV gameplan for India.
Honda introduced the Elevate SUV on June 6, 2023, the first of five SUVs it intends to introduce in India by the year 2030. The Honda Elevate will premiere before the holiday season, and reservations will open for the following month.
India’s SUV strategy of Honda
Takuya Tsumura, president and CEO of Honda Cars India, announced the company’s SUV strategy for India.
Takuya Tsumura said, “We have a very solid product strategy planned for India, By 2030, we want to have five SUVs. India will serve as the Elevate’s primary market and a significant center for the model’s future exports. Within the next three years, Honda Cars India also intends to release the Elevate in electrified form.”
Honda said earlier this year that it will bring one new model to India each year, including hybrid and electric vehicles.
Honda is once again looking at the possibility of bringing in premium vehicles via the CBU and CKD route to India in order to strengthen the Honda brand there.
Positioning Elevate as a Creta competitor
Honda’s foray into the midsize SUV market comes at a time when SUVs are mostly dominating the industry, making up over 40% of it. The midsize SUV market, which has grown to be the second-largest sub-segment in the market, will be where the Honda Elevate will be positioned. The Hyundai Creta, Kia Seltos, and Maruti Suzuki Grand Vitara are just a few of the competitors the vehicle will face.
After the City and Amaze, the Elevate, according to the business, will serve as its third major pillar for the Indian market and aid in expanding its position in the rapidly expanding sector.
“Despite tremendous obstacles, India has demonstrated its resilience and has remained the global market with the fastest rate of growth. We intend to extend our enduring success in the sedan market to the SUV market. The ideal urban SUV is Elevate, Tsumura continued.
The corporation has boosted production at its factory in Tapukara, Rajasthan, and the daily manufacturing capacity has climbed from 540 vehicles in Q1 of 2023 to 660 vehicles per day in order to make room for the Elevate and future goods.
Prior to the debut of Elevate, Honda revamped its dealership network.
With the introduction of the new SUV, Honda Cars India has invested Rs 260 crore in the revamped customer interface (CI) of its dealerships from a branding and retail viewpoint. The business claims there is tremendous momentum for its existing offers in smaller areas, where it now has 326 locations spread over 238 cities. According to the corporation, Tier 3 cities generate around 30% of its total revenue. Prior to releasing the Elevate in other international markets, Honda will do so in India.
