Honda Cars domestic sales fall  in July, by 5% YoY, registers retail sales of 4,624 units

Honda Cars sales fall: Honda Cars India has reported a 5 per cent decline in domestic sales for July 2024, with 4,624 units dispatched to dealers compared to 4,864 units in the same month last year. This decline in retail sales has reflected a challenging market environment and low consumer sentiment.

Despite the drop in domestic sales, Honda Cars India has experienced a significant increase in exports. The shipments have more than doubled to 2,710 units in July from 1,112 units in the previous year. This has resulted in a growth of exports by 143 per cent. This substantial growth in export volumes underscores the company’s expanding international footprint and its commitment to global markets.

Kunal Behl, Vice President of Marketing & Sales at Honda Cars India, has acknowledged the market challenges but expressed enthusiasm for the company's strategic approach. Behl said, “Despite the current market conditions and subdued customer sentiment, our sales momentum aligns with our expectations,” 

He emphasised that the company is working to stimulate demand through attractive offers and promotions, positioning it as a reasonable time for customers to purchase new vehicles. Behl has also expressed positiveness about the upcoming festive season, predicting that it will positively impact sales and contribute to stronger performance in the months ahead.

Looking forward, Honda Cars India remains focused on leveraging its strong export growth to maintain confidence in Indian manufacturing. The company is committed to providing high-quality products and maintaining its market presence both domestically and internationally.

Currently, Honda Cars India offers only three vehicles in the market. The Honda Elevate was the latest entry in the compact SUV segment and competed in one of the toughest segments in India. It shares its underpinnings with City.

(with PTI inputs)