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Honda Cars reports 47% decline in domestic sales in July

Honda Cars reports 47% decline in domestic sales in July
August 01
20:56 2020

Exports stood at 282 units last month, HCIL said in a statement.

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Honda Cars India Ltd (HCIL) on Saturday reported a 47.48 per cent decline in domestic sales at 5,383 units in July. The company had sold 10,250 units in the domestic market in July 2019, HCIL said in a statement.

Exports stood at 282 units last month, it added.

“July was action packed for us as we launched three models – new WR-V, Civic BS-VI diesel and all-new 5th generation City, which have helped us create excitement in the market and improve buying sentiment,” HCIL Senior Vice President and Director, Marketing & Sales, Rajesh Goel said.

The City in particular has received an astounding customer response and has been able to stimulate the mid-size sedan segment, he added.

“The company gradually ramped up its production to 60 per cent of pre-COVID level in July and despatched the entire available factory stock with us, registering a sequential growth of 285 per cent over June,” Goel noted.

While there have been intermittent local lockdowns in certain markets for COVID-19 prevention, the rise in demand is surely leading to month-on-month recovery for car sales, he added.

“With festive season ahead of us, we are quite positive about the industry getting back on track gradually,” Goel said.

First Published on Aug 1, 2020 08:26 pm

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