Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Donald <keyword id="19906203" type="General" weightage="100" keywordseo="trump" source="keywords">Trump</keyword> pledged to enforce a 10% blanket tariff on all imported goods to the US.</li><li>It is months before Trump's inauguration, but tariffs are already on the lips of global business leaders.</li></ul>As soon as Donald Trump won reelection, CEOs worldwide discussed his plans for <a target="_blank" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">a new</a><a target="_blank" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11"> era</a> of global tariffs. Although inauguration day is two months away, the leaders of consumer giants like BMW, Ikea, Airbus, and <keyword id="20017281" type="General" weightage="20" keywordseo="ralph-lauren" source="keywords">Ralph Lauren</keyword> were asked about the plans by the press and on earnings calls this week. Trump has vowed to impose a 10% blanket tariff on all foreign goods entering the US and up to 60% and 100% on goods imported from China and Mexico, respectively. He also floated a 100% tariff on imported vehicles and said he'd impose <a target="_blank" class="c-link" href="https://www.businessinsider.com/trump-tariff-threat-john-deere-economists-baffled-2024-9">a 200% tariff</a> on machinery giant John Deere if it continued with plans to move some production to Mexico. <h2>Asia</h2>During Trump's first term, the US and China imposed billions of dollars worth of tariffs against each other. Now, the potential for renewed trade disputes has concerned some Asian business leaders. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/chinese-stocks-em-fx-currencies-rout-trump-election-stimulus-china-2024-11">Chinese stocks dropped</a> after news of Trump's election victory. <keyword id="23945005" type="General" weightage="20" keywordseo="shinji-aoyama" source="keywords">Shinji Aoyama</keyword>, a global executive vice president at Japan's Honda Motors, said on a Wednesday earnings call that new tariffs on Mexico would have a big impact on Japanese companies. Honda, for instance, has production plants in Mexico. "If the tariff is a permanent one — I suppose it could be not permanent — maybe we would go for the production elsewhere, which is not subjected to the US tariff that we could do it." Aoyama said that he did not expect tariffs to be imposed soon, but added that it would not be easy to stop production quickly in Mexico. "Whoever the president could be, we should not be too much swayed around by them," said Aoyama. <div type="image" title="Shinji Aoyama, global executive vice president of Honda, in a suit behind a grey background." height="2741" width="4000" msid="115088843" hostid="261"></div><keyword id="20489383" type="General" weightage="20" keywordseo="piyush-gupta" source="keywords">Piyush Gupta</keyword>, CEO of Singapore's top bank, DBS, said during a media briefing on Thursday that he found it hard to believe Trump would follow through with his proposed tariffs. "The better thing to do is to wait and see what policy they actually come up with. It's very hard to make projections at this point in time," said Gupta. Instead, he highlighted the impact Trump's policies could have on <a target="_blank" class="" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">Fed rate cuts</a>. Fewer rate cuts would boost net interest margin — a key metric for banks. "I think a higher interest rate environment is generally better for DBS," Gupta said. He added that DBS would be focusing on the legal and regulatory risks associated with the Trump administration. "They could come up with different kinds of sanctions and other policies — you have to be on top of that." <h2>Europe</h2>Trump has repeatedly said he sees the European Union's trade policies as unfair. During his first term, he <a target="_blank" href="https://www.businessinsider.com/trump-threatens-to-tax-european-cars-if-the-eu-retaliates-against-us-tariffs-2018-3">imposed a number of tariffs</a> on key European industries, including steel, aluminum, and certain luxury goods. Europe responded in turn with tariffs on goods including bourbon whiskey, Harley-Davidson motorbikes, and Levi's. The US is Europe's top trading partner, leaving its businesses highly vulnerable to Trump's proposed 10% tariff. Sectors like automobiles, pharmaceuticals, and chemical products, which represent the lion's share of European exports to the US, would likely experience the biggest economic hit. Shares in BMW, Mercedes, and Volkswagen all fell in response to Trump's victory. The US is by far Germany's largest export market, with goods worth $170 billion sent in 2023, per <a target="_blank" class="" href="https://www.destatis.de/EN/Themes/Economy/Foreign-Trade/Tables/order-rank-germany-trading-partners.pdf?__blob=publicationFile">Germany's statistical authority.</a> On Wednesday, <keyword id="20964414" type="General" weightage="20" keywordseo="oliver-zipse" source="keywords">Oliver Zipse</keyword>, chairman of BMW, downplayed fears over tariffs during a third-quarter earnings call, citing the company's large US business. "We have a strong footprint there, which kind of protects us against anything which might happen on the geopolitical side," he told analysts. Zipse also told reporters, <a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/bmw-downplays-fears-over-us-tariffs-trump-election-win-2024-11-06/#:~:text=The%20U.S.%20market%20accounted%20for,carmakers%20in%20Europe's%20biggest%20economy">per Reuters,</a> that BMW "shouldn't be too nervous about what might happen." <div type="image" title="Oliver Zipse of BMW speaks in a blue suit behind images of motorbikes and cars." height="3203" width="4804" msid="115088838" hostid="261"></div>Arne Freundt, CEO of German sports brand <keyword id="19922141" type="General" weightage="20" keywordseo="puma" source="keywords">Puma</keyword>, took a similarly relaxed attitude to potential tariffs. "We can shift volumes to other countries swiftly in case of tariffs increase in certain countries," Freundt said. "Politics is politics," Ikea's CEO, Jesper Brodin, told Business Insider when asked about how Trump's tariffs would affect international business. "So we work with longer term cycles and investment frames, and so on. In Ikea, we are very clear on our direction." Guillaume Faury, CEO of the airline Airbus, was more concerned about how tariffs may impact prices. Addressing Trump's proposed tariffs during Airbus' third-quarter earnings call the day before the election, Faury warned that the cost of any new tariffs would be passed along to Airbus's airline customers, as in 2020. "We don't believe that's helping aviation and the competitiveness of the airlines and the aviation industry, but it's something we would be able to manage," Faury said. During his first term, Trump and the European Union were locked in <a target="_blank" href="https://www.businessinsider.com/trump-administration-slaps-tariffs-european-goods-2020-2">a long-running dispute</a> over aircraft subsidies, which the US said put Boeing at a disadvantage, and 15% tariffs were imposed on aircraft imported from the EU. Soon after Trump's departure from the White House, <a target="_blank" class="" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_21_3001">the two sides ended their dispute and axed the tariffs</a>, but renewed tariffs could lead to issues once again. <div type="image" title="Airbus general director Guillaume Faury" height="3000" width="4500" msid="115088848" hostid="261"></div>Martin Sorrell, executive chairman of the UK-based advertising company S4 Capital, described the President-elect as "good news" for North American businesses and companies during an earnings call on Thursday. "Whilst US business doesn't like to talk about it, basically US businesses wanted to see a Trump administration because it means low tax and low regulation," Sorrell said. He added that Europe would be more challenged because of the threat of tariffs. <h2>USA</h2>While tariffs are intended to protect domestic industries by making imports more expensive, companies whose supply chains include foreign contractors could see their costs rise. Justin Picicci, Ralph Lauren's CFO, said that over the last seven-plus years, the fashion brand has diversified its sourcing and developed alternative production for its key products. "Our global sourcing and supply chain is agile and well-positioned," Picicci said during an earnings call Thursday. "So we'll wait and see what, if any, future policy ultimately gets passed. But we've navigated tariffs successfully before, including not so long ago," Picicci said. The costs of tariffs are often passed onto the consumer in the form of price rises. But as demand for domestic goods increases, consumers see higher prices across the board. <keyword id="23945003" type="General" weightage="20" keywordseo="timothy-boyle" source="keywords">Timothy Boyle</keyword>, chief executive of Columbia Sportswear, said in an interview with <a target="_blank" class="" href="https://www.washingtonpost.com/business/2024/10/30/companies-tariffs-trump-prices/">The Washington Post</a> published on October 30 that the brand was set to raise prices if tariffs were imposed. "It's going to be very, very difficult to keep products affordable for Americans," he said. Correction: November 8, 2024 — An earlier version of this story misspelled the name of a Honda executive. He's Shinji Aoyama, not <keyword id="23945004" type="General" weightage="20" keywordseo="shinju-aoyama" source="keywords">Shinju Aoyama</keyword>.

CEOs around the world started talking about Trump's tariffs as soon as he won

<ul class="summary-list"><li>Three of Japan's iconic car companies are struggling.</li><li>Toyota, Honda, and Nissan reported underwhelming earnings in the most recent quarter, partly because of slumping sales in China.</li></ul>Japan's iconic auto industry is going through a rough patch, with three of its most important companies reporting underwhelming earnings in the most recent quarter.Toyota, Nissan, and Honda all reported slumping profits. The three automakers are grappling with ferocious competition in China and a bumpy transition to electric vehicles.Toyota, the world's largest automaker, saw <a target="_blank" class="" href="https://www.businessinsider.com/toyota-bmw-face-reckoning-in-china-sinking-sales-2024-11">profits for the quarter ending in September drop to 573.7 billion yen ($3.7 billion)</a>, down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.Rival <a target="_blank" class="" href="https://www.businessinsider.com/nissan-cutting-9-000-jobs-globally-production-capacity-reduce-costs-2024-11">Nissan announced it would cut 9,000 workers</a> amid falling sales, while Honda reported a 15% drop in operating profit in the second quarter.All three companies face a similar problem; they are failing to sell enough cars in China.Toyota's sales in China were down just over 10% in the first nine months of the year, with the company blaming "severe market conditions" such as "intensifying price competition."Still, a Toyota spokesperson told Business Insider that its declining profits were not only attributable to China; it also saw weakness in Japan and North America.Honda flagged a decline in sales in China in its most recent quarter, dragging down its total group sales. While Nissan reported a drop of over 5% in retail sales in China in the first half of the fiscal year — the largest drop of any of its regions.<a target="_blank" class="" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">Like other foreign automakers</a>, Japan's car giants are being squeezed in China by local rivals. These rivals have rapidly gained market share by offering a range of affordable but high-tech EVs and hybrids.<a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">BYD</a>, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-chinese-ev-rivals-record-deliveries-pressure-on-elon-musk-2024-10">Zeekr, and Nio</a> have reported bumper sales recently, as European automakers like <a target="_blank" rel="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes-Benz</a><a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10"> and BMW</a> are being squeezed in this region.Many of <a target="_blank" class="" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">China's EV champions are now expanding overseas</a>, something Felipe Munoz, auto analyst at JATO Dynamics, told BI was putting the likes of Toyota and Honda under growing pressure."The real battle is happening in the emerging markets. And that's exactly where the Japanese car makers are suffering the most," said Munoz, pointing to the rapid expansion of the likes of BYD in <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-shut-out-of-us-target-mexico-brazil-2024-6">Southeast Asia and Latin America</a>."Japanese carmakers have a strong presence in Southeast Asia. And Southeast Asia right now is a hot market for Chinese cars," he said.<h2 id="063c7ce4-3202-4df2-8359-3a26c5e32696">Electric woes</h2>Japanese automakers have taken a broadly cautious approach to the transition to EVs, focusing instead on hybrid vehicles.<a target="_blank" class="" href="https://www.businessinsider.com/toyota-hybrid-cars-ev-sales-growth-prius-bz4x-2024-2">That approach has mostly paid off</a> as EV demand has slowed, with Toyota reporting bumper profits on the back of strong hybrid sales in the US earlier this year.<div type="image" title="A Toyota Prius" height="1500" width="2000" msid="115219890" hostid="261" sizebytes="88360"></div>However, Munoz said that while the hybrids-first strategy may have worked out in the US and Europe, it has created problems for Japanese automakers in China, leaving them without a strong lineup of EVs that can compete with <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">local offerings that can cost less than $10,000</a>."China is definitely shifting to fully electric. And this leaves out all of the car makers that are not competitive with their electric cars," said Munoz.He added that Toyota, Honda, and Nissan are at risk of becoming overly dependent on US and European markets, which are <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">experiencing stagnating growth</a> while losing out in expanding markets like China."At the end of the day, the hybrid strategy worked in Japan, worked in the US, and worked very well in Europe, but that's not the case in China," he added.There are signs that Japan's auto giants are changing their strategies.Nissan has pledged to accelerate the introduction of new EVs in China and hybrids in the US, while Toyota is <a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/toyota-aims-ramp-up-china-production-strategy-pivot-sources-say-2024-11-09/">reportedly planning to expand production</a> in China as it attempts to take on local firms.A Nissan spokesperson told BI that the company is taking measures to meet the market's and customers' needs, including introducing new products.They added that the US remains a priority market for Nissan, and that the company was expecting an increase in sales from new models.Shares of the carmaker jumped on Tuesday after it was revealed that activist investor Effissimo Capital Management took a 2.5% stake in the company.Japanese automakers will likely face new challenges in the coming years, especially in the wake of <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-threaten-elon-musk-tesla-mexico-factory-limbo-2024-11">Donald Trump winning the US presidential election</a> this month.Speaking on an earnings call on Wednesday, <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">Honda executive vice president Shinji Aoyama warned</a> that Trump's proposed tariffs on vehicles imported from Mexico could have a huge impact on Japanese automakers, many of whom have factories in the country.Honda did not respond to a request for comment, sent outside normal working hours.

Japanese carmakers are losing ground as China surges ahead in the EV race 

<ul class="summary-list"><li>President-elect Donald Trump proposed an up-to 60% tariff on imports from China and 10-20% on goods from other countries.</li><li>Trade and industry experts said the proposals would likely increase costs in areas like apparel and technology.</li></ul>President-elect Donald Trump <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">has big plans for tariffs</a>. If implemented, Americans could see prices rise across several product categories.Some companies that produce apparel and auto parts have <a target="_blank" class="" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">already started preparing to raise prices</a> if Trump enacts his plans, and some trade experts predicted that a range of industries, including electronics and appliances, would see higher prices.Mary Lovely, a senior fellow at the nonpartisan Peterson Institute for International Economics, told Business Insider that Trump could implement his proposed tariff on China imports quickly — within the first half of 2025 — using an authority in the Trade Act, but she said it's a possibility that the president-elect will not follow through on the 60% tariff he proposed on the campaign trail. He also proposed a 10% to 20% tariff on goods imported from other countries."Nothing is taxed at 60% right now, so every sector is vulnerable to seeing higher tariffs," Lovely said, adding that she would expect a lower tariff, like 20% or 25%. There's also the question of how much of the tariff burden will fall on consumers, Lovely said, and a lot of it depends on the mechanisms Trump uses to implement the tariffs.Trump has <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10#imported-goods">said</a> that his tariff proposals would not impact consumer prices and would serve as a tax on other countries and boost American manufacturing. The impacts of his previous tariffs were mixed. In 2018, for example, tariffs on washing machines <a target="_blank" class="" href="https://www.nytimes.com/2019/04/21/business/trump-tariffs-washing-machines.html">caused</a> prices to rise on laundry items. The smaller 30% to 50% tariffs on imports from China that Trump implemented in his first term were not found to be inflationary, and President Joe Biden kept most of them in place."Consumers are going to be at a burden, but it may take some time for them to feel it, like a slow drip," Lovely said.Still, Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, said it's reasonable for both companies and consumers to prepare for higher prices. He told BI that companies are already concerned."Whether it's a finished good or an input to production, anything that gets brought into the country from somewhere else is going to get hit with that tax," Gold said.When asked about tariffs' impacts on inflation, Trump's spokesperson Karoline Leavitt said, "In his first term, President Trump instituted tariffs against China that created jobs, spurred investment, and resulted in no inflation."Based on analyses from economists and trade experts, here are the goods that could become more expensive for Americans under Trump's tariff proposals.<h2 id="6bd7d9e5-1349-490e-afe7-bfcfe6c706de">Apparel and shoes</h2>With Trump's proposals in place, the National Retail Federation <a target="_blank" class="" href="https://cdn.nrf.com/sites/default/files/2024-11/Estimated_Impacts_of_Proposed_Tariffs_on_Imports_11.24_0.pdf">estimated</a> that prices for apparel would increase by 12.5%, prices for footwear would increase by 18.1%, and travel goods — which include backpacks and wallets — would increase by 13%.Retailers that source more than 20% of their goods from China, including Crocs and American Eagle, are at higher risk from Trump's tariff proposals, a Bank of America research note <a target="_blank" href="https://www.cnbc.com/2024/11/06/trump-proposed-tariffs-consumer-prices.html">said</a>. The two companies did not immediately respond to a request for comment from BI on whether they are adjusting their business plans in anticipation of the tariffs.Some retailers have already announced preparations to increase prices should Trump's tariff plans go into effect. Columbia Sportswear CEO Tim Boyle said during an October earnings call that he is "very concerned about the imposition of tariffs." He later <a target="_blank" class="" href="https://www.washingtonpost.com/business/2024/10/30/companies-tariffs-trump-prices/">told</a> The Washington Post that the company is "set to raise prices" in response to Trump's plans.<h2 id="901a0f6a-c8c4-4040-adc4-f59680460559">Electronics</h2>An October <a target="_blank" href="https://shop.cta.tech/products/how-the-proposed-trump-tariffs-increase-prices-for-consumer-technology-products">report</a> from the Consumer Technology Association estimated that the proposed tariffs would increase laptop and tablet costs by 45%, smartphone costs by 25.8%, video game consoles by 39%, and televisions by 9%.China is a major supplier of electronic products, so everyday products that Americans use — like smartphones and laptops — would likely see price increases. The CTA report said that in 2023, China accounted for 87% of US video game console imports, 78% of smartphone imports, and 79% of laptop and tablet imports.While some companies could try to shift their production out of China, Gold said it's not an easy process."You can't change a supply chain overnight," Gold said. "It takes months, if not years, to be able to find a new vendor that you're comfortable with that can meet all of your different requirements, has the capacity, the skilled workforce, the infrastructure works within the country."<h2 id="4af3509a-5a51-43d4-a381-392f563c0881">Cars</h2>Major car companies import auto parts from China, Mexico, and Europe, and some executives have already warned that the industry would likely face higher prices under Trump's tariffs. Philip Daniele, CEO of auto-parts company AutoZone, said during a September earnings call that if Trump carries out his tariff plans, "we will pass those tariff costs back to the consumer.""We generally raise prices ahead of that," Daniele said, adding that prices would settle over time. "So, that's historically what we've done."Shinji Aoyama, Honda's executive vice president, said on a November earnings call that Trump's proposals will have a "big impact" not just on Honda but on other car companies like General Motors and Ford. Still, he said he thinks it would take some time for the tariffs to be imposed, and at that point, Honda might consider moving production to a country that is not subjected to US tariffs.Lovely said that auto parts are an area where a lot of production is coming from China, so it's "very reasonable" to prepare for price increases. But shifting production would present difficulties because if Trump implements his 10% to 20% universal tariff, "you don't really know if there's any safe place," she said.<h2 id="8651f485-c0c8-4b71-a554-448306a5b630">Furniture</h2>The National Retail Federation report estimated that a 10% universal tariff and a 60% tariff on imports from China would increase furniture costs by 6.4%. Specifically, the report said a $200 crib could end up costing $213 after tariffs, and a $2,000 mattress and box spring could rise to $2,128.The NRF added in its report that the higher costs would hit low-income households the hardest: "They spend twice as much of their after-tax income on furniture as high-income households."Additionally, Henrik Elm, the CFO for Inter Ikea — the group that connects Ikea stores with suppliers — <a target="_blank" href="https://www.reuters.com/business/retail-consumer/ikea-ready-potential-tariffs-under-trump-cfo-says-2024-11-08/">told</a> Reuters that the company is preparing for higher tariffs under Trump, saying that Ikea has worked to make its supply chain more responsive to changes."I think we are better equipped than we have been ever before," Elm said, adding that "of course we are not immune to changes."<h2 id="4b90402b-7b3d-4fb9-b4c4-8ce9e4ee75d4">Appliances</h2>NPR <a target="_blank" href="https://www.npr.org/2019/04/09/711001915/tariffs-complex-ripple-effects-hit-appliance-shoppers-and-makers">reported</a> in 2019 that Americans were seeing higher prices on appliances like washing machines after Trump implemented a 20% tariff on the product. The NRF report said it expects appliance pieces to rise again under Trump's higher tariff proposals with a 19.4% price increase on items including stoves, fridges, dishwashers, and blenders.Under the analysis, the price of a basic fridge would rise from about $650 to $776.Gold said it's unlikely Trump's tariffs would go into effect on day one or day two, and "it's tough to say right now at what point consumers would feel the impact.""It could also depend upon the individual companies and what their tariff mitigation plans are and how much they can try and lessen the impact on the consumers," Gold said. "Obviously, larger companies might have little more ability to do that than small, medium-sized folks who really can't absorb the impact of the tariff and would immediately have to pass on those costs."<h2 id="e555aa7a-b2a3-4f94-b3aa-dae3f12d768a">Groceries</h2>Trump vowed to lower grocery prices for Americans — during a town hall in September, he said he would lower grocery prices by restricting food imports to promote production in the US. However, his tariff plans could increase grocery prices.A <a target="_blank" class="" href="https://www.thirdway.org/report/what-trumps-tariffs-mean-for-your-trip-to-the-store">report</a> from centrist think tank ThirdWay said that Trump's tariff proposals analyzed eight common purchases that the US either heavily imports or is unable to produce domestically. Using data from the International Trade Commission, the report estimated that coffee costs would rise by $0.23, frozen beef prices would rise by $1.09, and olive oil prices would rise by $0.31.Taylor Rogers, the Republican National Committee spokesperson, previously told BI that "Trump will once again cut taxes and unleash American energy to lower prices on groceries and other goods when we send him back to the White House."

From clothes to computers, 6 things expected to get more expensive if Trump's trade plans are enacted

India may leave Indonesia behind to grab the number 1 spot in the two-wheeler market for Honda Motor by next year. This is likely to happen because <keyword id="46362" type="CITY" weightage="100" keywordseo="Honda-Motors">Honda Motors</keyword> is expanding at a fast clip in India, and the sales in Indonesia are dipping, said a top executive. 
 
Honda Motors is world's top two-wheeler maker and aims to sell 20 million units by 2020. For this, the performance in India as well as its neighbouring countries like Pakistan, Bangladesh and Myanmar is very crucial. These markets hold even more importance when the vital motorcycle markets of Vietnam, Indonesia and Thailand are moving at a slow pace. 
 
"Clearly, India is the most important and biggest market," said Shinji Aoyama, the COO of Honda's motorcycles business, in an interview on the sidelines of the Tokyo Motor Show. Honda Motors looks at India as the key market in driving its sales with a volume of 7-8 million two-wheelers by 2020. 
 
"This financial year, India will catch up with Indonesian volume of 4.5 million units. Then, next year, it may overtake as the Indonesian market is seeing a decline in 
volumes," Aoyama said. 
 
For the record, the sales of Honda Motorcycle &amp; Scooter India, which is the local unit of Honda Motors, has tripled in the last four years. It reached the whopping number of 4.45 million two-wheelers in fiscal 2015, and plans to sell 4.7 million units in fiscal 2016, following it with up to 6.4 million in the following year. 
 
Aoyama, who led Honda Motorcycle &amp; Scooter India from 2007 to 2011, said that the company also plans to lead the Indian market, but has not set any time for that. "In the next three years it may happen, it may not happen, I'm not sure," he said. At present, Hero MotoCorp is leading the Indian market. Honda holds the second position by a considerable margin, and has a long way to cover this distance. 
 
Although it is fast grabbing the market share, because of strong demand for scooter, a segment where Hero MotoCorp hasn't been much successful in the recent years.

India to be Honda’s top market soon!

PM Narendra Modi’s ‘<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword>’ initiative is gaining steam as <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> Motorcycle &amp; Scooter India inaugurated its fourth manufacturing plant in Gujarat. 
 
The Honda’s latest green factory is spread over 250 acres and will operate under two phases and will manufacture 1.2 million automatic scooters annually. 
 
The new plant is environment friendly as it is technologically advanced and more than one-third of the total plant area is a dedicated green zone. 
 
Noriaki Abe, Operating Officer, Chief Operating Officer - Asia and Oceania Regional Operations, Honda Motor Co., Ltd. said, “In case of two-wheelers, India is the fastest growing economy in the world and is one of the most important and fast growing markets for Honda. We are inaugurating our 4th factory in Gujarat. This will make India to attain No. 1 position in all ASEAN countries.” 
 
With an investment of around Rs 60 million in and around Vithalapur, Honda is also generating employment in the region. 
 
In 2015, Honda’s global sales of all products was 28 million units out of which global 2wheeler sales stood at 17 million units. 
 
“Today, 25% of the total Honda two-wheelers sold across the world come from India. We will continue to invest in technology, for the Indian market. Through training and cross market collaborations, we want to make India Honda’s technology hub as well,” said Shinji Aoyama, Operating Officer and Director, Chief Operating Officer, Motorcycle Operations, Honda Motor Co., Ltd.

You Searched For "shinji aoyama" and got 5 results

CEOs around the world started talking about Trump's tariffs as soon as he won

Polly Thompson

Japanese carmakers are losing ground as China surges ahead in the EV race

Tom Carter

From clothes to computers, 6 things expected to get more expensive if Trump's trade plans are enacted

Ayelet Sheffey

India to be Honda’s top market soon!

BI India Bureau

Another boost to Make in India, Honda launches 4th plant in Gujarat

BI India Bureau

Popular Keywords

Buying Guides