Honda Cars Sales Oct 2024, Domestic Drops, Exports Gain

Honda Elevate Apex Edition

Except for YoY prospect in Exports, Honda Cars sales Oct 2024 witnessed sales decline across the board in both YoY and MoM analysis

Around the festive season, Honda Cars India Ltd has had a good sales prospect in the month of October 2024. However, sales could have been better in the Asian subcontinent and numbers have been dwindling. Let’s break the numbers down and take a closer look at how the company performed with respect to sales in October 2024.

Honda Cars Sales Oct 2024

There was a time once HCIL (Honda Cars India Ltd) offered a wide array of vehicles ranging from Brio at the lower end and Accord executive sedan with a sophisticated Hybrid powertrain at the top end. Now, HCIL offers three vehicles only – Amaze, City and Elevate. Next Gen Amaze is being tested and could uplift Honda sales by a considerable margin.

The sales performance of HCIL in the month of October 2024 fell short of what it achieved in October 2023 and September 2024. Despite the massive surge in footfall into showrooms around festive season and the exciting discounts and offers, Honda cars didn’t see a lot of takers.

Honda Cars India Ltd sold a total of 5,546 units in the domestic market last month. When compared to the 9,400 units sold in September 2023, HCIL witnessed a massive YoY decline of 41%, losing 3,854 units in volume YoY. When opposed to the 5,675 units sold in September 2024, a month before, HCIL’s 5,546 units sales in October 2024 witnessed a MoM decline of 2.27%, losing 129 units in volume MoM.

Honda Cars Sales Oct 2024 – Domestic

Where exports are concerned, HCIL shipped a total of 4,534 units last month, which accounted for 23.11% YoY growth as opposed to 3,683 units shipped in October 2023. However, Honda shipped 5,236 units in September 2024, resulting in a 13.41% MoM decline in exports, losing 702 units in volume MoM.

Except for the YoY analysis for exports, rest of the sales performance witnessed a decline in both YoY and MoM analysis. In total (Domestic + Exports), HCIL pushed out 10,080 units and managed to register a 22.95% YoY decline as it lost 3,003 units in volume YoY and a 7.62% MoM decline losing 831 units in volume.

Statement from HCIL

Sharing thoughts on the sales performance, Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “The festive sales momentum in October with Navratra, Durga Puja, Dussehra, Dhanteras and Diwali celebrated in same month contributed strongly to the customer deliveries at the dealerships.

Honda Cars Sales Oct 2024 – Exports

It surely revitalized demand compared to previous few months of muted activity for the industry. Our dispatches and deliveries aligned with our expectations. Our focused approach to 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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