Honda Elevate,More than 10,000 Elevate SUVs, made in India, were sent to Japan and are sold there under the name Honda WR-V.
The Honda Elevate has been available for purchase in India since September 2023. Initially, sales were strong, averaging over 4,500 units in the first five months. However, demand has since declined. Over the last five months from February to June 2024, Honda Elevate sales averaged about 2,380 units per month. Meanwhile, exports of the Elevate to Japan, where it is known as the WR-V, have been steadily rising.
- Honda sold 5,435 Elevate SUVs in April-June period
- 10,659 Elevate’s exported to Japan in the same period
- New Amaze coming this festive season
Segment Overview: Honda Elevate Among Mid-Tier Performers in Q1 FY2025
Compared to its competitors, the Honda Elevate ranks in the middle for sales numbers. In the first quarter of FY2025 (April-June 2024), popular models like the Hyundai Creta, Maruti Grand Vitara, Kia Seltos, and Toyota Hyryder led the segment with higher sales figures. The Elevate, along with models like the Volkswagen Taigun, Skoda Kushaq, and MG Astor, sold fewer units during this period.
However, the Elevate is boosting Honda’s exports significantly. By the end of June 2024, Honda climbed to third place in exports (after Maruti and Hyundai) with 18,009 units, marking a 256 percent increase from the previous year’s low base of 5,508 units. Since its launch in August 2023, Honda has exported 61,863 Elevate units overall. In Q1 FY2025 alone, Honda shipped 10,659 Elevates made in India to Japan, where its export numbers nearly double its domestic sales. This achievement also makes Honda the second-largest exporter of utility vehicles in the country.
For comparison, Volkswagen exported 5,466 Taigun SUVs, while Kia and Hyundai sent 1,764 Seltos and 782 Creta models, respectively, during the same period. The Elevate SUV also surpassed the export numbers of Honda’s City sedan, which totaled 7,080 units in that timeframe.
Honda on Track to Meet 2024 Elevate SUV Export Targets :
We reported earlier that Honda plans to export between 30,000 to 50,000 Elevate SUVs by the end of 2024. With over 10,000 units already shipped in three months, Honda appears to be on track to achieve this goal.
Honda and Nissan are both relying heavily on exports to achieve economies of scale. Nissan’s lineup in India currently revolves around the Magnite compact SUV, with plans to continue selling low-volume models like the X-Trail until a new SUV based on the Renault Duster arrives in late 2025. The Magnite, expected to receive a facelift later this year, sold 6,722 units domestically in the first quarter of FY2025, while exporting 3,643 units. In the previous fiscal year (FY2023-24), Nissan sold and exported over 30,000 Magnites, highlighting the importance of exports for the brand.
Meanwhile, Honda is preparing to launch the new-generation Amaze compact sedan during this festive season. Additionally, Honda’s ACE (Asian Compact Electric) project is underway to develop a global electric SUV based on the Elevate, which is anticipated to debut in India by 2026.