Image Source: autocarindia.com
The Honda Elevate, available in India since September 2023, saw strong initial sales, averaging over 4,500 units in the first five months. However, from February to June 2024, sales decreased to an average of 2,380 units. Despite this, exports to Japan, where the Elevate is sold as the WR-V, have been increasing.
In the April-June 2024 period, Honda sold 5,435 Elevate SUVs domestically, while exporting 10,659 units to Japan. Compared to its rivals, the Elevate’s domestic sales place it in the middle of the segment. For instance, in the first quarter of FY2025 (April-June 2024), the Hyundai Creta led with 46,402 units, followed by the Maruti Grand Vitara (27,066 units), Kia Seltos (19,776 units), and Toyota Hyryder (11,433 units). The Elevate, with 5,435 units, trailed behind these leaders, along with the Volkswagen Taigun (4,838), Skoda Kushaq (3,514), and MG Astor (2,948).
Source: autocarindia.com
Despite the moderate domestic sales, the Elevate has significantly boosted Honda’s export figures. By the end of June 2024, Honda had exported 18,009 units, a 256 percent increase from the previous year’s 5,508 units. Since starting exports in August 2023, Honda has shipped 61,863 Elevates. In Q1 FY2025 alone, Honda exported 10,659 Elevates to Japan, nearly double its domestic sales. This surge has made Honda the second-highest utility vehicle exporter in India, following Maruti and Hyundai.
For context, Volkswagen exported 5,466 Taiguns, while Kia and Hyundai sent 1,764 Seltos and 782 Cretas, respectively, in the same period. The Elevate’s export numbers also surpassed those of the Honda City, which had 7,080 units exported during this time.
Source: autocarindia.com
Honda plans to export 30,000-50,000 Elevate SUVs by the end of 2024 and appears to be on track to meet this target. Similarly, Nissan relies heavily on exports, with the Magnite compact SUV. In Q1 FY2025, Nissan sold 6,722 Magnites domestically and exported 3,643 units. In FY2023-24, Nissan sold and exported over 30,000 Magnites each, highlighting the importance of exports.
Honda is also preparing to launch the new-gen Amaze compact sedan this festive season and is developing the Elevate-based global electric SUV, expected in India by 2026, under its ACE (Asian Compact Electric) project.
