Honda Cars India Ltd. (HCIL) reported a stellar 20% growth in its total sales for calendar year 2024 (CY 2024), clocking 1,31,871 units compared to 1,10,143 units in CY 2023. This growth was driven by a significant increase in exports and steady domestic demand.
December 2024 Sales Performance
In December 2024, Honda sold 9,460 units, a decline of 18.81% compared to 11,651 units in December 2023.
Domestic Sales: 5,603 units, down by 29.09% from 7,902 units in December 2023.
Exports: 3,857 units, marking a marginal growth of 2.88% over 3,749 units in December 2023.
Q4 2024 Performance
Honda Cars India’s Q4 2024 sales stood at 10,726 units, reflecting a decline of 9.80% compared to 11,891 units in Q4 2023.
Domestic Sales: 5,005 units, down by 42.67% from 8,730 units in Q4 2023.
Exports: 5,721 units, a robust growth of 80.99%, up from 3,161 units in Q4 2023.
Key Highlights of CY 2024
Total Sales: 1,31,871 units, up by 21,728 units or 19.73% compared to CY 2023.
Domestic Sales: 68,650 units, reflecting a decline of 18.55% compared to 84,289 units in CY 2023.
Exports: 63,221 units, a massive 144.53% increase from 25,854 units in CY 2023, driven by strong demand for the Honda Elevate SUV.
Strategic Achievements
The surge in export volumes highlights Honda’s success in establishing India as a global manufacturing hub, particularly for the Honda Elevate, which has driven much of the export growth. Despite challenges in domestic demand, Honda leveraged its portfolio with the successful launch of the 3rd Gen Amaze, which has received an excellent response since its debut in December 2024. In the coming days, Honda will launch Elevate Black Edition.
Leadership Perspective
Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “2024 was a mixed bag for the industry. While the domestic car market had challenges towards creating fresh demand, HCIL recorded its highest ever exports in CY’2024 largely driven by exports of our mid size SUV Honda Elevate. This contributed to a remarkable growth of 20% in overall HCIL’s sales and establishing India’s position as a key manufacturing hub for Honda globally. We launched the all-new 3rd Gen Amaze in India last month to an excellent response, for which delivery volumes are set to accelerate with the new year. With a newly launched model and a strong commitment to the Indian market, we look forward to welcoming a prosperous 2025.”
