Honda Cars India has recorded a sales decline of 78.50 per cent last month at 3697 units as compared 17,202 units sold in March 2019. As far...
Honda Cars India has recorded a sales decline of 78.50 per cent last month at 3697 units as compared 17,202 units sold in March 2019. As far as the financial year 2020 is concerned, the Japanese carmaker sold 102,016 units in FY2020 as compared to 183,808 units which is a slump of 44.49 per cent. The company had exported 216 units in March 2020 and 3826 units in FY2020. Honda has also clarified that the poor sales is attributed to the prolonged slowdown that gripped the industry last year and then the automaker had to control the supply of BS4 inventories ahead of BS6 transition.
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Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India said, "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. The unfortunate outbreak of COVID-19 has hit us all which has impacted businesses across the world."
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The new Honda City is likely to arrive post the lockdown period.
The apex court has allowed automakers in India to sell only 10 per cent of its total BS4 stock within 10 days post the lockdown. All operation across the industry has been stopped abiding to the nationwide lockdown in a bid to fight against the Coronavirus pandemic, however, the closure is resulting into a loss of Rs. 2300 crore on a daily basis.
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