EV push: Honda eyes 30% share in Indian two-wheeler market by 2030; sees big potential among female buyers – Times of India

Japanese auto major Honda is aiming to capture a 30 per cent share in India’s two-wheeler market by 2030 as part of its broader global strategy to command half of global two-wheeler sales, said Tsutsumu Otani, President of Honda Motorcycle & Scooter India (HMSI). “Considering the Indian market size, we want to achieve 30 per cent share in India by 2030,” Otani was quoted as saying by news agency PTI, underlining the country’s critical role in the company’s long-term growth blueprint. HMSI currently holds a 27 per cent share in India’s two-wheeler segment. Honda sees India as a key growth engine, particularly in the context of female consumers, who account for only around 10 per cent of total two-wheeler sales. Otani said, “In India, the overall two-wheeler usage is mostly male, with 90 per cent, and females just around 10 per cent. It means the potential for two-wheeler sales to grow among the female customers is huge.” While the company is optimistic about the eventual transition from internal combustion engine (ICE) vehicles to electric two-wheelers in India, Otani flagged infrastructure as a challenge. “In the long term, the shift will happen, but currently, bottlenecks around charging infrastructure and electricity supplies are major impediments,” he stated. Globally, Honda aims to increase motorcycle sales from 50 million units to 60 million units by 2030, including electric models. The company plans to introduce 30 electric models by 2030, targeting annual sales of 4 million electric units worldwide. It also aims to secure the largest market share in India’s electric two-wheeler segment and is planning to set up a dedicated EV production plant in the country by 2028. However, Otani clarified that the location and investment details for the facility are yet to be finalised. As per PTI, HMSI sold 47,89,283 units in FY25, up from 40,93,895 in FY24. It remains the second-largest player after Hero MotoCorp, which sold over 54 lakh units last fiscal.