Honda plans jacking up marketshare with new CR-V

Honda plans jacking up marketshare with new CR-V

Author | exchange4media News Service | Wednesday, Nov 10,2004 8:23 AM

Honda plans jacking up marketshare with new CR-V

Honda SIEL Cars India launched the new CR-V in India today. The company has positioned the car at the premium segment. The new CR-V will be available in a manual transmission version as well, informs H Yamada, President and CEO. As of now the company has sold as many as 1,800 units of C-RV and for the next financial year, it plans to sell around 1,000 units of this model, he adds.

The new CR-V is available in two variants—Manual Transmission and Automatic Transmission. The MT is available at Rs 14,57,000 and AT is priced at Rs 15,57,000 (ex-showroom).

Among the new features that are offered to the consumers, there are the new five-speed transmission, refined suspension, 2.4 l I-VTEC engine, ABS, etc. Enquired why the company hasn’t come up with a better engine than the one used in Accord (2.4 l), Yamada explained, “We have used the same family of engine that has been used for Accord, but for the CRV we have accordingly modified it.”

On introducing the diesel variant of CRV in India, Rajive Saharia, Deputy General Manager--Marketing said “The diesel variant of CRV is only sold in Europe and we have a very limited market for these variants, so we are not selling this variant in any other part of the world.”

Elaborating on the company’s overall performance, Yamada said: “We have witnessed a 193 per cent growth in sales in the first seven months of the current financial year. With the launch of the New City, our marketshare in the segment has increased from 16 per cent to 29 per cent. Accord has also established itself as a leader in the luxury segment with 40 per cent marketshare. The CR-V, which currently commands 28 per cent in its segment, has helped further strengthening our overall position in the premium segment.”

On the communication strategy chalked out by the company, Saharia shared, “The company is not spending too much on the media and is adopting a very focused approach. This is because we cater to the premium segment and are primarily targeting the niche segment.”

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