Honda 2W May 2023 Sales Shake Up – Mayhem in Numbers is a Rollercoaster Ride
In May 2023, Honda two-wheeler sales were subdued. Domestic sales stood at 3,11,144 units. Exports accounted for 18,249 units, resulting in a total of 3,29,393 units. A year prior, in May 2022, domestic sales were slightly higher at 3,20,844 units, whereas exports were 32,344 units. That amounted to a total of 3,53,188 units.
This indicates a decline for Honda 2W May 2023 sales compared to the previous year. With a difference of -9,700 units domestically and -14,095 units in exports, culminating in an overall decline of -23,795 units.
May 2023 Sales Slump: Honda Two-Wheelers Battle the Odds
Analysing the year-on-year growth percentage reveals a negative trend. Domestic sales witnessed a decline of -3.02 percent. Exports experienced a significant decrease of -43.58 percent in May 2023 compared to May 2022.
This downward trend suggests that Honda faced challenges in both the domestic and international markets. Examining sales market share distribution for May 2023, as always, domestic sales held a dominant position at 94.46 percent of total sales.
Honda Two-Wheeler Sales Take a Dive: May 2023’s Rollercoaster Ride
Export market sales share is significantly smaller, accounting for only 5.54 percent of Honda’s overall sales. This stark contrast highlights the company’s heavy reliance on the domestic market, which could pose risks if domestic demand were to decline.
Shifting focus to the month-on-month performance, comparing Honda 2W May 2023 sales with April 2023, Honda experienced a decline in both domestic and export sales. Domestic sales dropped by -27,145 units, exports declined by -18,209 units, resulting in an overall decrease of -45,354 units. This signifies a negative growth rate of -8.02 percent on a month-on-month basis.
Mayhem in May: Sales Encounter a Rocky Road
Analysing the market share for April 2023, Honda domestic sales held a dominant share of 90.27 percent, with exports contributing a mere 9.73 percent to the overall sales. However, the declining sales figures for both domestic and export markets indicate a challenging business environment for Honda during this period.
Month-on-month comparison indicated a negative growth rate, reflecting a challenging business environment for Honda during this period.
