The company is bullish of double-digit growth in Q1 FY23.
Honda Motorcycle & Scooter India (HMSI) clocked sales of 318,732 units in April 2022, registering a 33 percent year-on-year growth over 240,101 units sold in April 2021, when the country was in the clutches of a devastating second Covid wave.
Although the growth is on a low year-ago base, the company anticipates double-digit growth in Q1 of this fiscal, owing to levers like a surge in market operations and the resumption of the wedding season in North India, which, in general, augurs well for sales for two-wheelers.
According to YS Guleria, director, Sales and Marketing, HMSI, “April marks the beginning of a positive period pillared by surge in market operations and onset of the marriage season.”
The April recovery also stems from the fact that schools and colleges are opening across the country after a two-year study-from-home, as well as a favourable harvesting season, boosting demand in rural India. However, the company has cautioned that supply woes could impact the recovery going forward still. “Supply side issues and the global economic scenario may continue to pose a challenge,” Guleria said.
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