Honda recorded a massive drop in sales for June in their sales report. In fact, Honda has been witnessing a slowdown is sales for almost a year now.
Another month goes by and car sales still seem to be in an all-time low. Honda Cars India, one of the five largest car makers in India has announced their sales report for the month of June and yet again, its not positive. Honda recorded a decline of a massive 41.4% in June 2019 selling 10,314 units of vehicles in the domestic market as compared to 17,602 units which were sold in the same month last year.
Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd said, “The auto industry is going through its worst slowdown with continuous decline for many months. Going forward, any initiative which can jumpstart the demand will definitely be a positive for the industry.”
Honda also exported 252 units of vehicles last month which again is down by 48.1% as they exported 486 units in June, 2018. Sales have been down for Honda since the beginning of this financial year itself. HCIL sales for Q1 FY2019-20 (April-June 2019) has been recorded to be 33,028 units. Sales have declined by 22.48%, down from 42,609 units sold in Q1 FY2018-19. In fact, Honda has been witnessing a slowdown is sales for almost a year now.
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The 2018 Honda Amaze, Honda’s best selling car in India witnessed a drop in sale by 39% in May to 6000 units from 9810 units sold in May, 2018. Customer sentiments have been poor due to increased prices and low credit availability and sales were also largely set back by the Lok Sabha elections in the previous month.
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Almost all car manufactures have reported a decline in their sales report for the month of June other than Mahindra. However, Honda and most other manufacturers are positive about the market conditions to improve in the coming few months. Honda is also prepping to bring the new HR-V compact-SUV to India and that should likely help boost sales for Honda.
