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Honda targets 21 percent rise in India two-wheeler sales in FY15

Reuters

MUMBAI (Reuters) - Honda Motor Co's Indian two-wheeler unit aims to increase sales by 21 percent in the current fiscal year that started in April, helped by booming sales of its scooters and planned launches.

The company plans to sell 4.5 million two wheelers in fiscal year 2014/15, Honda Motorcycle & Scooter India (HMSI) said in a statement, compared with about 3.7 million sold last year.

HMSI said it would double its network to 3,800 outlets by March 2015 from 1,950 in fiscal year 2012/13.

The company is building its fourth motorcycle factory in India with an initial investment of roughly 11 billion rupees ($184 million) and annual output capacity of 1.2 million vehicles.

($1 = 59.8650 rupees)

(Reporting by Aradhana Aravindan; Editing by Prateek Chatterjee)