Targeting the leisure and transport usage, Honda Siel Power Products Ltd (HSPP), India subsidiary of Honda Motors Japan, has launched Honda Outboard Engines in the Kerala market on Thursday.
Kerala, already a leading State for Honda products, has been chosen for the commencement of new enterprise considering the 550-km coastline and a thriving seafaring culture, Mr Takashi Hamasaki, President and CEO, HSPP India, said at a press conference.
The company has introduced five models and there is a size available for every application whether fishing, tourism, leisure, transportation or coastal defence ranging from 2 to 225 horse power. There are also plans to launch the products in the other parts of the country as well, he said.
According to Mr Hamasaki, the current OB engine market in Kerala is estimated at 1,400 units a year and the majority of its usage is for fishing applications. The company is expecting a 20 per cent growth considering the surge witnessed in fishing applications, transport and leisure usage, which is increasing at higher rates. There are also plans to approach the Kerala Government in promoting outboard engines for the benefit of fishing community in the State, he added.
The company is of the view that the Honda Marine OB engine can leverage the economic growth opportunity and also contribute towards improving fishermen earnings together with sustainable development, he said.
Mr Hamasaki pointed out that the developing and the emerging markets worldwide are growing at a faster rate and this prompted the company to venture into the OB engine market, especially in India. He said the global market has improved in 2010 after being hit by recession in 2009. According to him, the majority share of the company is in the domestic market with over 2.4 million customers as of March 2011. The engines are also being exported to over 35 countries from its Hosoe plant in Shizuoka, Japan.
Japan quake
However, the recent disaster in Japan has affected the company's production for about three weeks as the supply of components was hit. The sales turnover at the plant is 52,000 units per year, he said.