Honda Motor, the acclaimed Japanese car major has been struggling painfully in the car market of Europe. The car major has been struggling with dwindling sales and bleeding market share for a long period of seven years in Europe. However, the car maker has not lost its hopes and is working hard towards reviving its European subsidiary with the launch of its new cars.
Honda HR-V
Honda seems to be an unfortunate Japanese car major in the European market, as the other two Japanese auto majors, namely Toyota and Nissan are still the major players in the market. Honda’s market stance in Europe is very grim as the company’s annual sales have plummeted by more than half since the year 2007. Nevertheless, Honda Motor remains optimistic about the restoration of its European operations and it seems it has good reasons to be so. Honda has new cars in its range including the latest release HR-V crossover which should pump up its sales. Moreover, the company’s job cuts at its production facility in the UK will also help it to some profitability in the market.
The chief of sales division at Honda Europe, Philip Ross told the media that the company has been waiting for a few years for new product to come and now it is finally launching. He also said that Honda Europe is currently has a better financial position even after reporting only one profitable year in the market ever since 2007. He added by saying that the company believes that it is now a lean organization which can move forward with agility and profitability will definitely come along.
The HR-V compact crossover which is known as the Vezel SUV in Japan will be hitting the European market next year and will be a crucial launch for Honda Motor in Europe. The new vehicle is coming with lots of hopes from Honda Europe as it is expected to win new customers for the company. The company expects to get many younger customers with the new HR-V crossover, as the vehicle targets the youth.
The new Honda HR-V will be pitched in a segment which is expected to grow double its current size in the European car market to 1 million units by the year 2020. The Honda HR-V is an alluringly designed premium crossover which has earned a lot of accolades already.
Ross refused to reveal the sales expectations for the HR-V by Honda Europe, however market experts opine that Honda Motor will sell around 30,000 units of the new HR-V crossover in Europe in the year 2016, which will be the car’s first full year of availability. If Honda is able to achieve this sales figure, the HR-V will be the company’s third bestselling vehicle in the market after the CR-V and the Civic.
Honda Europe managed to sell a total of 139,712 cars last year, accounting to a market share of a meager 1.1 percent. Back in 2007, Honda Europe’s sales peaked at 313,484 vehicles with a market share of 2 percent.
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I have been writing content for auto blogs for quite a long time now. My passion lies in this field and I love to picture cars as well.
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