Honda Cars India reports domestic sales decline, and growth in exports in February 2022
Current market situation is such that manufacturers are upbeat about demand but continue to find it difficult to deliver. With a global chip shortage with far reaching outcomes, meeting demand in a timely manner is a matter that’s being reviewed at all times.
Honda Car Sales Feb 2022
Honda Cars India has had a difficult February 2022 with domestic sales down to 7,187 units. This is at a decline when compared MoM, and YoY. YoY sales fell from 9,324 units, down to 7,187 units. Volume loss stood at 2,137 units following a sales decline of 22.92 percent. MoM sales fell from 10,427 units. Volume loss stood at 3,240 units at 31.07 percent decline.
YoY exports however improved last month. YoY exports are up at 2,337 units, up from 987 units at a volume gain of 1,350 units. Growth is reported in triple digits. MoM exports are up from 1,722 units. Volume gain stood at 615 units at 35.71 percent growth.
Total sales in February 2022 fell to 9,524 units, down from 10,311 units. Volume loss stood at 787 units at 7.63 percent decline. MoM total sales fell from 12,149 units at volume loss of 2,625 units. Sales decline stood at 21.61 percent.
Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “We are witnessing improvement in consumer sentiment as COVID-situation seems to be tapering off and markets are opening-up. This is positive for the industry. On the supply side, chip shortage continued to impact our production and despatches in Feb ’22. We hope the situation improves in the future so that we can meet the market demand more effectively.”
Honda Cars India portfolio
As if months of dealing with Covid-19 wasn’t an adequate test of difficulty, the auto industry continues to be tested through the ongoing chips shortage. So, while Honda deals with these circumstances, the one pressing question is, what can Honda do to improve its lot in India. It all boils down to sales, and for February 2022, that number looks particularly poor in the domestic market.
The Honda Amaze sedan sits atop the sales table, following by the ever-successful City. Jazz and WRV sales, even collectively, have found it difficult to reach 1k units in all. And that sums up Honda’s product lineup here.
Given that’s two leading cars in the list, but for customers, it may be one too few to choose from. It remains to be seen how quickly Honda introduces another car to improve its competitive power, considering middle order dominance can be anyone’s top game.