Honda Cars India March 2020 growth slumps (-) 78.50% at 3697 units

Honda Cars India Ltd. (HCIL) registered its annual domestic sales of 102,016 units during FY 2019 – 20. The company’s monthly sales stood at 3,697 units in March 2020. The company had sold 183,808 units during FY 18-19 and 17,202 units in March 2019.   While annual fiscal growth in sales stood at minus (-) 44.50 per cent, the growth in March 2020 stood at minus (-) 78.50 per cent.

HCIL exported a total volume of 3,826 units during FY 19-20 with an export of 216 units during the month of March 2020.

Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd, “As is known, the last financial year was the most challenging for the automotive industry because of economic slowdown, poor consumer sentiment clubbed with transition challenges to BS-6. In order to unburden our dealer network, we had drastically revised our annual volumes in September last year. In spite of the lockdown in March, we were able to almost achieve our annual business plan and also successfully liquidate the BS-4 stocks from the network.”

He further added, “The unfortunate outbreak of COVID-19 has hit us all which has impacted businesses across the world. In the current scenario, we are taking multiple measures to support our dealers and customers. We hope we are able to tide through this unprecedented crisis at the earliest.”