Honda Cars India Ltd, a renowned name in the Indian automotive landscape, has released its sales figures for November 2024, highlighting both domestic and export performance amidst the anticipation of the new Amaze launch.
In November 2024, Honda Cars India faced a downturn in the domestic market, selling a total of 5,005 units. This marks a significant year-over-year (YoY) decline of 42.67% from 8,730 units sold in November 2023, resulting in a volume loss of 3,725 units. Month-over-month (MoM), the sales also decreased by 9.75% compared to 5,546 units in October 2024, leading to a loss of 541 units. This dip in domestic sales comes as Honda gears up for the launch of the third-generation Honda Amaze, which is expected to bolster sales in the B-segment sedan category.
Contrasting with domestic sales, Honda’s export figures for November 2024 showed robust growth. The company exported 5,721 units, an impressive 80.99% increase YoY from 3,161 units in November 2023, adding a volume gain of 2,560 units. This surge in exports can be attributed to models like the WR-V, which is a rebadged version of the Honda Elevate, now being sold in markets like Japan.
The combined total for November 2024, including both domestic and export sales, stood at 10,726 units. This figure reflects a 10% drop from the previous year’s sales for the same period, primarily due to the decline in domestic sales. However, the focus on exports has provided a silver lining to Honda’s performance metrics.
Vice President of Honda Cars India Limited, Mr. Kunal Bahl, had this to say, “Our sales performance in November was in line with our plan. As we approach the launch of All New 3rd Generation Amaze in a few days from now, the production of the new model will ramp up from December. There is lot of excitement among customers for the new Amaze highlighting a strong market connection for the brand. On the other hand, our exports have been growing backed by strong demand for Elevate in export markets.”
With the launch of the new Amaze sub-compact sedan on the horizon, there’s optimism that Honda will see a resurgence in sales, particularly in the domestic market. The Amaze has always been a key player for Honda in India, and its latest iteration could potentially reverse the current downward trend in sales.