When exporting a vehicle, a green card is also required for liability insurance. Cargo International can arrange this for you. You will need a temporary insurance to export a vehicle. It is provided by the insurance company when you take out car insurance. The green card is an international proof of insurance for your vehicle. Green card and European accident report form.Content of the green card as an international proof of insurance.For this, 100% sales across the globe, including India will come from BEVs and fuel cell EVs. The company aims to be carbon neutral by 2040. With high level of quality standards to deliver products that exceed expectations of both local and worldwide customers, India has become one of the most important export hubs for Honda.” The exports from India to several regions across the globe are growing continuously every year. said, "India being the world's third largest automotive market is extremely important for Honda. and President and CEO, Asian Honda Motor Co., Ltd. Toshio Kuwahara, Head of Regional Unit (Asia & Oceania), Honda Motor Co., Ltd. “While India will be a leading market for Elevate, it will also be the key export hub for the model in the future,” Tsumura said.ĭuring the last two years, the Japanese carmaker has significantly increased its exports and marked a YoY growth of 17% in FY23. Globally unveiled in India, Honda plans to export the Elevate to several markets globally. Tsumura said that until FY23, the company produced 540 units per day, which has now gone up to 660 units production per day. Honda rolls out vehicles from the Tapukara plant in Rajasthan, which has a production capacity of 1.8 lakh units and can be expanded to 2 lakh units. However, Honda is only offering the Elevate in petrol version. While the Creta and Seltos are offered in petrol and diesel powertrains, Grand Vitara and Hyryder come in CNG and petrol strong hybrid avatars. The success of Elevate SUV is crucial for the company to garner interest of the consumers in the fast growing SUV segment. Besides, Kia sells the Seltos, Maruti Suzuki offers the Grand Vitara, Toyota Urban Cruiser Hyryder, Volkswagen Taigun, Skoda Kushaq, amongst others. In the industry, Hyundai’s Creta is the market leader in the mid-size SUV segment. The company will open the bookings for the new SUV in July and launch it during the festive season. Honda will also offer its Sensing ADAS offering in the Elevate, with features including collision mitigation braking system, lane departure warning, adaptive cruise control, lane keep assist, road departure warning and automatic high beam assist. It is mated to a 6 speed (MT) Manual Transmission and 7-speed CVT (Continuously Variable Transmission). It comes with a 1.5L i-VTEC DOHC petrol engine, which churns out 121PS of power and 145 Nm of maximum torque. The new Elevate SUV has been developed by Honda R&D Asia Pacific center located in Thailand. Its domestic sales have also increased by about 6% year-on-year (YoY) in FY23. However, the carmaker is committed to the India growth story and after two consecutive years of loss making, it has been profitable in the country for FY22 and FY23. The UV segment currently garners over 50% over the Indian PV industry and within this, the SUVs contribute to about 43%. One of the reasons for the significant drop in the recent years may also be attributed to the lack of SUV models in the portfolio. This was followed by the shut down of its oldest factory in Greater Noida, Uttar Pradesh owing to the falling demand and failure in utilising the maximum production capacity.īack in FY19, Honda grabbed about 5% market share which eventually slipped to 3.7% in FY2020 and now hovers around 2%. In 2020, the carmaker initiated three rounds of Voluntary Retirement Scheme (VRS) which resulted in several key functionaries leaving the company. Honda had been facing a tough time since a few years when the struggle further worsened after the Covid-19 pandemic.
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