Honda currently offers only 2 models – Amaze and City on sale in the country while Jazz and WR-V have been discontinued
Honda car sales in March 2023 stood at 6,692 units, a 1.56 percent YoY growth over 6,589 units sold in March 2022. This was a volume growth of 103 units. MoM sales on the other hand, improved by 9.96 percent over 6,089 units sold in Feb 2023.
Honda Car Sales Registers Growth Despite March 2023
Exports saw a 42.18 percent YoY growth to 3,189 units in March 2023, up 946 units as against 2,243 units shipped in March 2022. It was also a significant increase in exports on a MoM basis as against 973 units exported in Feb 2023. This took total sales (domestic + exports) to 9,881 units in the past month, a growth of 11.88 percent when compared to 8,832 units sold in March 2022.
Honda car sales during the Q1 2023 period stood at 20,599 units relating to a 14.89 percent de-growth over 24,203 units sold in the same period last year. The company registered annual sales of 91,418 units in domestic markets in FY 2022-23, up 7 percent over 85,609 units sold in FY 2021-22. Exports on the other hand stood at 22,722 units in 2022-23 period from 19,401 units shipped in 2021-22 relating to a 17 percent growth.
When talking about the increase in fiscal sales, Mr Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd, stated that the company achieved 7 percent growth in domestic markets especially with the Amaze contributing to 33 percent growth in the past fiscal. Exports also grew by 17 percent though the company continues to contend with global chip shortage which has impacted production.
City sedan was the largest selling mid size sedan in India last year. The new City sedan could boost sales in the coming months thanks to an aggressive pricing between Rs 11.49-Rs 20.39 lakh (ex-sh). However, it is slated to face some competition from Hyundai 4th gen Verna that is priced lower from Rs 10.89 lakh (ex-sh). The Honda City also faces competition from VW Virtus and Skoda Slavia.
New Honda Compact SUV Launch
As of now, Honda only has the Amaze and City on sale in India. Honda has discontinued diesel variants of all existing models. They have also discontinued Jazz, WRV and 4th gen City. To boost sales, Honda will soon launch a new SUV, which will take on the likes of Creta and Seltos. It will go on sale from Summer 2023, and will aid the company in garnering increased monthly sales.
