Honda Cars India registers 12% growth with 7,902 units in domestic sales during December’23

Honda Cars India Ltd. (HCIL) registered domestic sales of 7,902 units with a growth of 12% and exports of 3,749 units with a growth of 170% during Dec’23 in comparison to same period in previous year.

The company had registered 7,062 units in domestic sales and exported 1,388 units in Dec’22.

Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “The sales momentum in December has been extremely positive for us in both factory despatches and retail as our network maximised the deliveries for the new SUV Elevate to our customers. Alongside our best sellers City and Amaze, the Elevate has become our strong pillar of business accounting for over 50% of total HCIL sales currently."

"On the exports front too, we registered our highest ever monthly export volume of 3,749 units from India. With strong sales momentum and growing market potential, backed by a robust business plan, we look forward to usher in 2024 with tremendous positivity and optimism," he added. 

Last year, Autocar Professional had exclusively reported that after selling cars for over two and half decades in India, Honda Motor Company will be sourcing vehicles “Made in India” into its home market, Japan, for the first time in 2024. 

Honda Cars India will be exporting a significant 30,000 to 50,000 units in the next calendar year of its recently launched mid-size SUV Elevate back to Japan, in what is a strong validation of the quality of cars made in India to cater to the evolved markets. The move is likely to more than double Honda Cars India's overseas volumes from the country, say people in the know.

While the company is non-committal on any financial projections – a back of the envelope calculation shows that it could translate into an export turnover of over Rs 5000 crore for the company. 

This is the highest export planned by the company in its history of its presence in the country and also the highest volumes back to Japan from India by any car maker yet. Suzuki Motor Corporation too is likely to send vehicles back home.