Honda Cars India domestic sales increased 12 percent YoY in July 2022 to 6,784 units
Honda Cars India Ltd. (HCIL), which sells models such as the Amaze, Jazz, WR-V, City and the City eHEV, has seen domestic sales increase by 12 percent YoY in July 2022. Honda car exports also posted a YoY growth.
The company continues to face dire shortage of semiconductor chips which has had an adverse effect on production thus leading to difficulty to keep up with timely supplies. HCIL expects the upcoming festive season to bring in added sales while with the chip shortage having marginally improved, production could be boosted to ensure lower waiting periods.
Honda Car Sales July 2022
Honda Cars have noted a YoY growth in domestic sales. The company had sold 6,055 units in July 2021 which increased to 6,784 units in July 2022. This was a volume growth of 729 units. MoM sales dipped 17.15 percent when compared to 8,188 units sold in June 2022 leading to lower volumes by 1,404 units.
Exports on the other hand stood at 2,104 units in July 2022, an increase over 918 units shipped in July 2021 leading to a 129.19 percent YoY growth. Thus total tally (domestic sales + exports) stood at 8,888 units in July 2022 up 27.19 percent as against 6,973 units sold in July 2021. On a cumulative basis, the company wholesales have grown by 40 percent over last year.
Honda Cars new SUVs in 2023
HCIL plans to realign its portfolio in 2023. The company will reportedly axe the Jazz from its lineup and production will be stopped from October 2022. The 4th Gen City will also see its last model being produced in December 2022 while production of the WR-V will end in March 2023.
Of these, the Honda Amaze and City command a major share of the company’s sales volume at 50 percent and 30 percent respectively. Sales contribution of the WR-V and Jazz are at 12 percent and Jazz at 8 percent respectively.
Following the said models being discontinued, the company will only have the 5th Gen City, City Hybrid and Amaze sedans on sale in India. This reduction of the company portfolio is being done to create space for two all new SUVs which will be positioned in the sub 4 meter SUV segment (Brezza, Nexon rival) and compact C segment (Creta, Seltos rival). Currently referred to as PF2 and PF2S, both are slated to be underpinned by the Amaze platform.
No engine specifications have been revealed as on date. However, they could borrow the engine lineup from the City. This includes a 1.5 liter i-VTEC petrol engine and 1.0 liter turbo petrol engine. Transmission options could include a 5 speed manual and CVT automatic gearbox. Launch of a new SUV will help Honda increase their market share in the PV segment in India.
