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Charts & Analysis

Honda Cars India Sales Contracts 41.2%, Attributes Disruptions Due To Effects Of Cash Crunch

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Honda Cars India reported sales of 8,726 units in November, 2016 against 14,832 units during the same time last year resulting in a contraction of 41.2%.
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  • Domestic Sales stood at 8,029 units against 14,712 units
  • Exports stood at 697 units against 120 units

Commenting on the sales performance, Mr. Yoichiro Ueno, President and CEO, Honda Cars India Ltd. said:

The November month saw major disruptions in the market due to the on-going effects of demonetization and cash crunch. The consumer sentiment was low and footfalls and enquirers at the dealerships also slowed down during the month. We have taken several constructive steps to neutralize the impact of demonetization, which includes squeezing the wholesale to avoid the stock piling up at the dealerships. We believe that the situation will normalize in the near future and our sales performance will improve accordingly

Launching the New Brio, Honda Cars India (HCIL) is also looking to rake in revenue from its components export of around Rs 1,675 crore. HCIL supplies different engine parts, forgings and transmissions along with others to Honda, produced at its Tapukara plant in Rajasthan.
Here is the new Honda BRV New. Named the WR-V – a crossover-hatchback based on the Jazz slated for March, 2017.
Image Honda BRV New
Honda will unveil the facelift of its Honda City – 3 years after the launch of the fourth generation model. As per media reports, the facelift is rumoured to be launched in January, 2017.
Honda Cars India has decided to tie up with HDFC, Axis and ICICI Bank to provide up to 100% loan facility to its prospective customers at a time when demonetization is hitting its business. The company has negotiated 100% on road and ex-showroom funding deals with HDFC, Axis and ICICI Bank.
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