Honda Cars India has posted a growth of 17 per cent in sales in January while Ford and GM register decline...
Honda Cars India Ltd (HCIL) registered monthly domestic sales of 18,331 units in January, 2015 witnessing a growth of 17 per cent, the highest monthly sales of this fiscal. The company sold 15,714 units in the corresponding month last year.
HCIL also exported a total volume of 1,369 units during January 2015. The company’s overall sales in January 2015 are its highest ever monthly sales including exports.
HCIL also registered an overall growth of 47% during April 2014 – Jan 2015 with 149,464 units as against 101,370 units during the corresponding period in FY 2013-14.
Commenting on the company’s performance, Jnaneswar Sen, Sr. Vice President – Marketing & Sales – Honda Cars India Ltd., said,“January 2015 has been an extremely good month for HCIL. We registered our highest monthly domestic sales of this fiscal contributed by strong sales momentum for all the models. We are extremely thankful to our customers for their faith in us and we are confident of a strong performance through the year.”
Ford India sells 9,061 vehicles in January
Ford India sold 9,061 vehicles in combined domestic wholesales and exports in January, compared to 10,634 vehicles in the corresponding month last year.
January domestic wholesales remained steady at 6,647 vehicles against 6,706 units in the same month last year. Ford exported 2,414 cars in the past month compared to 3,928 units in January 2014.
“Our domestic wholesales have remained steady in January. The rollback of excise duty concessions has further contributed to the prevailing low consumer sentiment,” said Anurag Mehrotra, vice president for Marketing, Sales & Service at Ford India.
“Automotive industry is one of the biggest contributors to GDP. While we welcome RBI’s recent move to reduce interest rates, a lot more needs to be done to restore the sector on a growth trajectory. We hope that the government will continue its pro-consumer, industry-friendly reform policy and introduce measures to boost demand in the upcoming budget.”
General Motors sales down 16% at 4,667 units in January
General Motors India today reported a 16.01 per cent decline in sales at 4,667 units in January as against 5,557 units in the same month last year.
Commenting on the sales performance, General Motors India Vice President P Balendran said: “The withdrawal of excise duty benefits has significantly affected demand during the previous month. High interest rates and weak economic fundamentals continue to put pressure on car purchases.”
The auto sector’s turnaround is possible only if interest rates are reduced in phases and government announces big-ticket reforms in the upcoming budget to revive the consumer sentiment, he added.