Honda, the Elevate has accounted for over 50 percent of Honda’s sales, while the City continues to rack in sales numbers.
Honda Cars India Shines with a Whopping 170% Growth in Exports for December 2023
In a notable performance update, Honda Cars India reports a robust domestic sales figure of 7,902 units, marking a significant 12% growth, while exports soar to 3,749 units, boasting an extraordinary 170% increase in December 2023 compared to the same period the previous year. This stellar achievement highlights the company’s unwavering commitment to excellence in both local and global markets.
One of the key highlights of this success story is the exceptional performance of the recently launched Elevate SUV. Within just 100 days of its launch, the Elevate SUV has reached an extraordinary milestone of 20,000 unit sales. Offering four variants – SV, V, VX, and ZX – with prices ranging from Rs. 10,99,900 to Rs. 16,19,900 (ex-showroom), the Elevate SUV has emerged as a major contributor to Honda Cars India’s business, accounting for over 50% of the company’s total sales. The company also exported 3,749 units.
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Yuichi Murata, Director, Marketing and Sales at Honda Cars India Ltd, expresses enthusiasm about the exceptional monthly performance, attributing the success to the positive sales momentum. Murata notes that the introduction of the new SUV Elevate has played a pivotal role, accounting for over 50% of total HCIL sales, alongside the continued popularity of best sellers City and Amaze. This impressive performance underscores Honda’s ability to adapt to market demands and solidify its position as a key player in the automotive industry.
“Also in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers,” he added.
Yuichi Murata – Director of Marketing and Sales at Honda Cars India
emphasized the company’s positive outlook for 2024, attributing the success to a robust business plan and the growing market potential. He expressed optimism for the future, driven by strong sales momentum and the continued popularity of vehicles in the Indian and international markets. Murata has an optimistic outlook and anticipates continued success. He stated, “With strong sales momentum and growing market potential, backed by a robust business plan, we look forward to ushering in 2024 with tremendous positivity and optimism.”
In 2023, Honda Cars India saw a 521% increase in operating profits, recording a profit after tax of Rs 1430 crore. The company had been in the red since 2020.
India is the Honda City’s largest and most important market, accounting for more than 25% of its global sales. Globally, the Honda City has sold over 3.5 million units in more than 60 countries
Conclusion
Honda’s recent achievement of a remarkable 12% growth underscores its unwavering dominance in the ever-evolving automotive landscape. The company’s strategic prowess and commitment to excellence have propelled it to new heights, solidifying its position as a key player in the industry. This impressive growth, coupled with a surge in exports, reflects adaptability and success on both domestic and global fronts.
As the automotive giant continues to steer towards unparalleled success, it remains a driving force shaping the future of the automotive sector. Honda’s innovative approach and sustained momentum position it as a trailblazer, ready to navigate the challenges and opportunities that lie ahead. Buckle up for the exciting journey ahead as Honda continues to redefine the standards of automotive excellence.
Disclaimer: The details provided in this article are based on available sources and may not be 100% accurate. The values mentioned are estimations, and actual auction results may vary.
