In the midst of the dwindling auto sales in India, Honda Cars have registered 10,250 units in domestic sales. Honda Recorded a drop of 48% when compared to the corresponding month from 2018 when the manufacturer sold 19,970 unit sales. Export units for Honda stood at 334 units in July 2019.
Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd said, “The degrowth in the automobile industry further intensified last month amidst weak buying sentiment and overall slowdown. We are also witnessing lot of postponement of purchases. It is extremely worrisome since Jul’19 decline is much severe than Q1 decline and that too when the industry had declined in July last year as well.”
Most other automakers are reporting to be following the same path. Maruti Suzuki registered a decline of 33.5% while Hyundai and Mahindra both have recorded decline of 3.8% and 15% respectively. Meanwhile, in the two-wheeler industry, the story seems to be the same. TVS has registered a downward trend by 13% while Bajaj Auto has recorded a sales decline of 5%. However, some lower-volume manufacturers have been registering growth like Volkswagen India has recorded positive growth by 2.2% with the Polo premium hatchback itself recording 15% growth in sales. Additionally, Suzuki Motorcycle India has clocked 18% growth in July 2019.