Greetings, everybody. That is TOI Auto’s new ‘Decoding Success’ collection through which we will likely be analyzing the performances of automobiles out there in India. As a part of this collection, we will likely be talking to the producers, sellers, trade consultants and even potential clients to know their sentiments a few automobile and we’re beginning this collection with the Elevate.
The Elevate, although not loaded with flashy options, was designed to prioritize performance over swanky aesthetics. Somewhat than focusing solely on the flamboyant host of options most fashionable SUVs get lately, the corporate advised us that it aimed to ship worth by offering options that catered to the sensible wants of shoppers.
2023 Honda Elevate SUV Assessment: Jack of all trades | TOI Auto
This strategy resonated with many, because the Elevate was profitable in garnering constructive suggestions for its sturdy boxy design, ‘elevated’ highway presence, spaciousness, and luxury.
Honda Elevate: Gross sales up to now
From September 2023 till March 2024, Honda has bought over 33,600 models of the Elevate domestically. Actually, the mannequin has contributed to a formidable 39 % to the corporate’s general gross sales within the final fiscal. Talking of the export markets, the mannequin has emerged because the second-largest contributor and in step with the federal government’s ‘Make in India, Make for the World’ initiative, the mannequin is being shipped to its own residence, the place it’s being bought because the WR-V. Apart from that, it’s also being exported to South Africa and Nepal.
Honda Elevate: Gross sales sample
Now, whereas the gross sales quantity in a look seems respectable, the gross sales have really been dipping on the MoM foundation. In September final yr, the corporate bought 5,685 models of the SUV within the home market – its highest ever up to now. Nonetheless, following that month, the gross sales appeared to have shrunk a bit as the corporate ended the yr with 4,367 models in December. Subsequent month, the corporate began the brand new yr on a constructive be aware promoting some 200 odd models greater than its Dec figures; nonetheless, it was adopted by a considerable fall in Feb and March the place the OEM bought 3,184 and three,277 models, respectively.
Honda Elevate: Decline not one thing because it seems from exterior
Now, you may suppose that the depleting gross sales numbers are an indication of waning client curiosity however no, the corporate mentioned that the decline has moderately stemmed from its incapacity to match the provision with demand and different key components similar to a fraction of the manufacturing models being aligned for export markets from December.
Apart from that, the corporate needed to improve its meeting line to make means for security options similar to necessary six airbags, 3-point ELC (Emergency Locking Retractor) seatbelts and seatbelt reminders for all 5 seats, all of which had been made an ordinary fitment from this month itself. The corporate says that it’s optimistic that the gross sales numbers will develop ranging from the primary month of FY2025. However, our vendor sources have advised us that the demand and queries for the mannequin is excessive and as soon as Honda kinds issues out on its manufacturing finish, the gross sales will proceed to develop thereafter.
Honda Elevate: What’s in demand
Analyzing gross sales tendencies additional revealed insights into client preferences, with the top-tier ZX grade commanding the bulk share of Elevate gross sales. Moreover, the gross sales distribution between handbook transmission (MT) and constantly variable transmission (CVT) variants showcased a desire for the comfort supplied by CVT, which accounted for 63% of complete gross sales.
Geographically, gross sales knowledge indicated a balanced distribution throughout completely different tiers, with Tier 1 cities contributing the biggest share adopted by Tier 2 and Tier 3 cities.
In conclusion, the Honda Elevate has emerged as a powerful contender within the SUV section and as Honda addresses manufacturing challenges and continues to boost the Elevate’s choices, it’s more likely to solidify its place as a profitable mannequin throughout the firm’s lineup. That mentioned, the corporate must deliver extra SUVs and that too shortly.
