In addition to the year-on-year export outlook, Honda Motor’s October 2024 sales showed an overall decline in both year-on-year and month-on-month analyses.
Honda Cars India Ltd’s sales outlook for October 2024 is good around the festive season. However, sales in the Asian subcontinent could have been better, but volumes are dwindling. Let’s break down the numbers and take a closer look at how the company’s sales will perform in October 2024.
Honda car sales in October 2024
There was a time when HCIL (Honda Cars India Ltd) offered a wide range of vehicles starting from the low-end Brio to the high-end Accord executive sedan with advanced hybrid powertrain. Now, HCIL offers only three vehicles: Amaze, City and Elevate. The next-generation Amaze is being tested and could give Honda a big boost in sales.
HCIL’s sales performance in October 2024 is lower than the sales performance in October 2023 and September 2024. Despite a huge increase in footfall at showrooms around the festive season and exciting discounts and offers, Honda’s car sales don’t see many takers.
Honda Cars India Ltd sold a total of 5,546 vehicles in the domestic market last month. Compared to the 9,400 units sold in September 2023, HCIL witnessed a sharp decline of 41% year-on-year, with sales volume falling by 3,854 units year-on-year. As compared to 5,675 units sold in September 2024 a month ago, HCIL sold 5,546 units in October 2024, a decrease of 2.27% month-on-month, with sales volume falling by 129 units month-on-month.
In terms of exports, HCIL shipped a total of 4,534 units last month, a year-on-year increase of 23.11%, while shipments in October 2023 were 3,683 units. Honda’s shipments in September 2024 were 5,236 vehicles, a month-on-month decrease of 13.41%. Export volume decreased by 702 units month-on-month.
Except for the year-on-year analysis of exports, the rest of the sales performance declined year-on-year and month-on-month. In total (domestic + export), HCIL launched 10,080 units, down 22.95% year-on-year, and sold 3,003 units less year-on-year, down 7.62% quarter-on-quarter, and sold 831 units less.
Statement from HCIL
Sharing his views on the sales performance, Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “The festive sales momentum in October, Navratri, Durga Puja, Dussehra, Dhantra celebrated in the same month Sri and Diwali have made a huge contribution in delivering goods to the customers of the dealership.
This has certainly reinvigorated demand compared to the subdued activity in the industry in previous months. Our shipping and delivery met our expectations. Our focus on aligning production and inventory with demand positions us well to sustain this momentum. “
Also read – Next-gen Honda Amaze spied testing
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