Honda Sales Dip By 2.2 Per Cent In January 2018

Honda Cars India registered monthly domestic sales of 14,838 units and exports of 398 units in January 2018. This number is lower than what the company did in January 2017. The company sold a total of 15,592 units in the same period last year. However, the company managed to hold on to its cumulative growth of 17 per cent selling 144,802 units during April 2017 to January 2018, against 124,114 units in the corresponding period last year.

Mr. Yoichiro Ueno, President and CEO, Honda Cars India Ltd. said, "HCIL has witnessed strong growth of 17% in the ongoing fiscal year and we expect the market to further pick-up after the anticipations regarding Union Budget are stabilized. HCIL will showcase our strong line-up for the next fiscal at the upcoming Auto Expo which will further strengthen our position in the Indian market."

With the Union Budget 2018 out, there were no major announcements for the Auto Sector, however, Honda Cars India is optimistic about the major push for infrastructure development in India. Ueno went on to state that, "With a major push given to the rural economy and significant investment in the infrastructure development under the Union Budget 2018, the outlook for automotive sector looks optimistic. This should further boost the sales volume marking a fruitful year for the manufacturers."