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Honda Elevate, Honda's entrant into the competitive compact SUV segment, has achieved remarkable success, surpassing the 20,000-unit sales milestone within just 100 days of its launch in September 2023. Despite entering a market dominated by popular models like Hyundai Creta, Kia Seltos, and Maruti Grand Vitara, Honda Elevate has secured a 10.84% share in the compact SUV segment, becoming the 4th best-selling model.
Sales Achievement
Honda Elevate rapid ascent in the market is highlighted by its achievement of 20,000 units in sales within the initial 100 days, making it one of the fastest to reach this milestone. The model has significantly contributed to Honda's overall sales, commanding over 50% share in the last three months and driving an 11% YoY sales growth from September to November.
Market Position
Despite facing stiff competition, Honda Elevate has positioned itself as the 4th best-selling compact SUV, trailing only behind Hyundai Creta, Kia Seltos, and Maruti Grand Vitara. Its market share of 10.84% underscores its substantial impact in the segment.
Distinctive Features
The success of Honda Elevate can be attributed to its bold and masculine design, featuring a robust grille, sleek LED projector headlamps, dual-tone alloy wheels, and distinctive LED dual-trails tail lamps. The model offers single-tone and dual-tone color options, providing a visually appealing range.
Advanced Driver Assistance Systems (ADAS)
Honda Elevate incorporates the Honda Sensing suite, equipped with a range of Advanced Driver Assistance Systems (ADAS). This includes features such as collision mitigation braking system, adaptive cruise control, lane-keeping assist, and more, contributing to its appeal among safety-conscious consumers.
Powerful Performance
Powered by a 1.5-litre i-VTEC engine generating 121 PS of power and 145 Nm of torque, Honda Elevate offers a choice between a 6-speed manual and a 7-speed CVT automatic transmission. With competitive fuel efficiency and a bold profile, it has attracted consumer interest.
Competitive Pricing
Positioned competitively in the market, Honda Elevate is priced at Rs 11 lakh for the base variant and Rs 16 lakh for the top-spec variant. The pricing strategy aligns closely with, and in some cases, undercuts competitors in the compact SUV segment.
Honda Elevate success story is marked by its swift market penetration, consumer acceptance, and robust sales performance. The model's distinctive design, incorporation of advanced safety features, and competitive pricing have collectively contributed to its rapid rise in the compact SUV segment. As Honda aims to achieve further milestones, the sustainability of Elevate sales momentum will be closely watched in the upcoming months. The model also serves as a testament to Honda's commitment to innovation and market responsiveness.