Honda says nearing 40% global motorcycle market share, led by India and the Global South

Honda’s two-wheeler business clocked $3.6 billion in operating profit for the year ended March 2024. It currently produces over 2 crore units every year in 37 facilities across 23 countries and regions.

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Honda Motor Company will have 40% market share of the global motorcycle market by March 2025, at over 2 crore units, with India along with Indonesia, Thailand and Vietnam accounting for 85% of the worldwide sales, the company said on January 28.

By 2030, Honda said it sees the global motorcycle sales reaching 6 crore units from the current 5 crore, including electric vehicles, powered by demand in what it calls the 'global south' region, comprising of India, Indonesia, the Philippines, Brazil and other South American nations.

Honda said it will keep introducing more competitive products and pursue electrification to solidify its motorcycle business with a 'long-term target to capture a 50% share' of the global market, including electric motorcycles. Honda plans to roll out as many as 30 electric two-wheeler models by 2030 to meet its projected EV sales target of annual 40 lakh units.

Talking about its India business, Honda Motor Company said it has 'steadily increased sales volume' and the largest market share is now 'within reach'. The motorcycle company has plans to have an electric motorcycle plant in India by 2028.

Honda’s two-wheeler business clocked $3.6 billion in operating profit for the year ended March 2024. It currently produces over 2 crore units every year in 37 facilities across 23 countries and regions.

Read More: Nissan and Honda consider merger to take on Toyota

Honda said it is exploring the possibility of relocation of its Mexico plant, in light of potential tariffs on Mexico by US President Donald Trump. Honda Motor Co makes around 9,000 units annually at its Mexican facility, which are exported to the US. “Of course there will be an effect. We’re considering relocation as a possible option but no decisions have been made,” Minoru Kato, executive officer in charge of Honda’s motorcycle unit said.

Honda's ambitious global plans and the proposed EV facility in India will mean intense competition with the home-grown, strong players like Bajaj Auto and market leader Hero MotoCorp.