Honda's dominance in the Indian scooter market has been maintained for a long time. Japanese automobile company Honda has maintained a strong hold in this segment through its popular scooter Activa. Similarly, as Chinese electric vehicle manufacturer BYD (Build Your Dreams) has made a distinct identity in the global electric car market. But now byd is going to hold her hand in India by holding Honda's hand. The company is now going to bring its scooter in the market with its help.
There was a time when China, which was once the main center of their global development schemes, has now become barren land for their petrol lineup as the sales of electric vehicles increased from 6.2% to 45% last year in 2020.
At the same time, foreign brands dominated in the 2010s have been destroyed. In 2017, the sales of Ford Motor Company and Nissan Motor Corp, which have been 10 brands, have fallen by 81% and 45%. Few well-known local electric brands like Ford Zeekar and Deepal lagged behind. At the same time, the General Motors Company is on the verge of extinction, in which the sales of Buke have declined by 66% and the sales of Chevrolet have declined by 92%, while the sales of Honda Motor Corp have fallen by 40%. Let me tell you that in 2017, the 21st largest carmaker BYD sold more cars in China last year than 10 major Japanese brands.
Right now, the scooter and motorbike are a market where Japan is growing. With increasing income in India and South-East Asia, the region is growing rapidly: McInsey & Company estimates that sales will increase by 8.7% annually by 2029, while it is about 1% for cars in this decade.
Honda already has 40% of this global market, and it is estimated that by 2030 it can increase the sales to 60 million bikes, it can increase it by 50%. The biggest basis of this change was declared in India with the introduction of Activa E: in India at the end of last year, which is the battery -powered variant of its best selling local bike.
