Honda plans to introduce five new SUV models in the Indian market by 2030. Among these models is the Elevate, which marks Honda’s entry into the highly competitive mid-sized SUV segment, known for its strong sales performance. As a senior company executive stated, Honda elevate Cars India aims to launch five SUV models in the country by 2030 as part of its strategy to establish a significant presence in the rapidly expanding SUV segment.
According to a statement by the company spokesperson, the company has outlined its strategy for the Elevate model, prioritizing fulfilling pending orders in the domestic market before venturing into exports.
1. Variant Pricing and Specifications
The Elevate model is available in four manual variants, with introductory prices ranging from ₹10.99 lakh to ₹14.9 lakh. Additionally, automatic trims are priced between ₹13.2 lakh and ₹15.99 lakh.
2. Impressive Powertrain Efficiency
The Elevate model features a 1.5-liter petrol engine that can pair with either a six-speed manual transmission or a seven-speed continuously variable transmission (CVT). The manual and CVT variants boast impressive fuel efficiency ratings of 15.31 kmpl and 16.92 kmpl, respectively, as stated by the automaker.
3. Honda Cars India Enters Mid-sized SUV Segment with Elevate; Plans to Launch Five SUV Models by 2030
Honda Cars India, a wholly-owned subsidiary of the Japanese automotive giant Honda Motor Company, has taken a significant step into the mid-sized SUV segment. They recently introduced their latest product, the Elevate, which is priced between ₹10.99-15.99 lakh (ex-showroom Delhi). This new model will compete head-to-head with popular vehicles like the Hyundai Creta, Maruti Suzuki Grand Vitara, Kia Seltos, and Toyota’s Urban Cruiser Hyryder.
Honda Cars India President & CEO Takuya Tsumura stated regarding their strategic focus, “Our focus is now on the SUV segment. Starting from Elevate, we will introduce five SUVs by 2030.” He emphasized the importance of the SUV segment, which has become the leading vertical in terms of sales volumes for the company.
The SUV segment’s contribution to the overall passenger vehicle sales in the country has surged to over 48 percent this year, up from 43 percent in FY23.
4. Honda Expands Product Lineup in India with Elevate Mid-sized SUV
Honda, known for its City and Amaze sedans in India, is venturing into the mid-sized SUV segment with Elevate. This move is expected to attract a new customer base to the brand. Honda’s President & CEO, Takuya Tsumura, expressed the significance of this step, stating that they’ve been missing in the SUV segment and that Elevate’s introduction is a major milestone for the company.
Tsumura sees the mid-sized SUV as a potential cornerstone of Honda’s business in India, offering significant value to evolving customers. Furthermore, the company plans to introduce a battery-electric version of Elevate within the next three years. According to Kunal Behl, VP (Marketing and Sales) at Honda Cars India, the mid-sized SUV segment (over 4 meters in length) has seen a remarkable 34 percent increase in sales this year, with average monthly sales now reaching approximately 70,500 units.
5. Strong Demand for Elevate SUV Prompts Honda to Focus on Timely Deliveries
Honda has witnessed an excellent response to the Elevate SUV since opening bookings in July. With the festive season approaching, the company is now prioritizing timely deliveries.
Kunal Behl, VP (Marketing and Sales) at Honda Cars India, mentioned, “We are not targeting any specific number (in terms of sales), but till now, after commencing bookings in July, without revealing the price, we have got 5-6 months of waiting on certain trims.” Consequently, the current focus is aligning production to meet this robust demand.
Takuya Tsumura, President & CEO of Honda Cars India, highlighted that the company has boosted production capacity to 660 daily units at its manufacturing facility in Tapukara, Rajasthan. There are also plans to further increase production capacity in the future.
Tsumura stated that the chip shortage issue has significantly improved, and the company proactively secured the necessary electronic components for Elevate to ensure meeting production plans.