Honda India car sales decline by 7.17 percent in July 2012

Cumulative sales of Honda Siel Cars India increased 95% during the second quarter of this year. Sales stood at 12,526 units in the second quarter of 2011 while this figure increased to 24,462 in the same period of the current year. However sales during the month of July alone was not all that encouraging HSCI sold 4,386 units in July 2012 as compared to 4,725 units sold in the same month of the previous year resulting in a 7.17% decline in sales.

HSCI, which is a joint venture between Japanese auto giants Honda and Siel Group sold 1,843 units of Honda City and 1,715 units of Brio. Their Jazz hatchback saw sales reach 598 units while only 138 units of Honda Civic were sold during the month along with 39 units of Accord and 53 units of CR-V. However, despite these spectacular second quarter sales, the company is not that optimistic about the future.

Sales during July 2012 being an indicator of the dismal macroeconomic indicators prevalent in the country indicate that sales may not be up to the mark. In June 2012, the company had to deliberately hold back sales to avoid stock build up at dealer showrooms. Present consumer sentiments are at an all time low. Petrol prices are increasing along with loan rates which have negatively impacted car sales. The company is hopeful of this situation improving in time for the festive season.

Read the press release below for more information.

Auto News Release

HSCI records 95% increase in cumulative sales during April – July 2012

New Delhi, August 1, 2012: Honda Siel Cars India (HSCI), leading manufacturer of premium cars in India, sold 24,462 units during the period April – July 2012 as against 12,526 units during the same period last year recording an increase of 95%.

The company sold 4386 units during the month of July 2012 as against 4725 units sold during the corresponding month last year.

Model wise sales break-up:

Brio: 1715
Jazz: 598
City: 1843
Civic: 138
Accord: 39
CR-V: 53