The current manual four variants of Elevate will be available for the customers at an introductory price set between Rs 10.99 lakh and Rs 14.9 lakh while the automatic trims are priced between Rs 13.2 lakh and Rs 15.99 lakh.
The model is powered by a 1.5 litre petrol engine paired with a six-speed manual and a seven-speed continuously variable transmission (CVT). The manual and CVT trims come with a fuel efficiency of 15.31 kmpl, 16.92 kmpl respectively.
Honda’s Elevate is expected to compete with Hyundai Creta, Maruti Suzuki Grand Vitara, Kia Seltos and Toyota’s Urban Cruiser Hyryder, among others.
“We have been missing in the SUV segment, so the introduction of Elevate is a big day for us,” Honda Cars India President & CEO Takuya Tsumura said to news agency PTI. Future Plans
With its new launch, the auto company is planning to introduce five sports utility vehicles in the country by 2030 as it looks to have a strong presence in the robustly growing segment, commented Tsumura.
“Our focus is now on the SUV segment. Starting from Elevate we are going to introduce five SUVs by 2030,” he added.
The automaker is also looking forward to the battery-electric version of the model which is expected to roll out in the next three years.
When asked about the chip shortage issue, Tsumura noted that the situation is much better now and that the company has acquired the required electronic components for Elevate in advance in order to meet the production plan.
Entry into the SUV segment
The contribution of the SUV segment in the overall passenger vehicle sales in the country has risen to over 48 per cent this year from 43 per cent in FY22.
“Mid-sized SUV segment has witnessed a jump of 34 per cent in sales this year as compared with last year with average monthly sales now hovering around the 70,500-unit mark,” said Honda Cars India VP (Marketing and Sales), Kunal Behl.
It is very important for the company to be in the SUV segment which has become the leading vertical in terms of volumes, Behl added.
At present, Honda sells City and Amaze sedans in the country.
The mid-sized SUV holds the potential to become a key pillar of Honda’s business in India, offering remarkable value to the evolving customers, Behl added.
He noted that the company has received great response for Elevate after commencing bookings in July and the focus now is on the timely deliveries in the festive season.
Production Plans
Tsumura noted that the company has ramped up production capacity to 660 units a day at its Tapukara (Rajasthan) based manufacturing facility. The company is also planning to increase the production capacity in the future, he added.
The company also plans to export Elevate but their focus right now is to cater to the pending orders in the domestic market, he commented.
So the current endeavor is to align production to meet the demand, he added.
Earlier, Honda Cars India reported a 30 per cent decline in domestic sales at 7,769 units for the month of August. The company had sold a total of 11,177 units in the same month last year.
(With PTI inputs)