Honda has posted a YoY growth but MoM drop in sales in December 2023 while CY 2023 sales ended with a 3.70 percent decline
Honda Motorcycle and Scooter India (HMSI) has released their sales results for December 2023. In the last month of the calendar year, total sales (domestic + exports) stood at 3,17,123 units, up 26.76 percent when compared to 2,50,171 units sold in December 2022. This was volume growth of 66,952 units. However, the company has seen a MoM decline by 29.19 percent from 4,47,849 units sold in November 2023.
Honda 2W Sales and Exports December 2023
Taking only domestic sales into account, HMSI sold 2,86,101 units in December 2023, up 22.71 percent YoY from 2,33,151 units sold in December 2022. MoM sales dipped by 31.99 percent from 4,20,677 units sold in November 2023. Exports on the other hand have seen both a YoY and MoM growth of 82.27 percent and 14.17 percent respectively to 31,022 units.
Honda 2W Sales in CY 2023
In calendar year (CY) 2023, the company sold 40,76,673 units. This was a 3.70 percent decline over 42,33,205 units sold in CY 2022 relating to a volume de-growth of 1,56,532 units. Sales remained in the red through most months of the past year, closing the first quarter (Jan-Mar 2023) with 7,01,084 units sold, down 23 percent over 9,10,472 units sold in the same 3 months of 2022.
Even as April 2023 sales ended on a positive note with a 6.14 percent YoY growth to 3,38,290 units, the Q2 period also ended with a 4.32 percent de-growth to 9,52,190 units sold down from 9,95,156 units sold in the same period of 2022. This saw the H1 2023 sales down 13.24 percent to 16,53,274 units.
During the months of July to September 2023, sales dipped by 22.81 percent in July but were positive in the latter two months but ended the Q3 period down 4.64 percent to 12,53,874 units from 13,14,894 units sold in Q3 of 2022. The festive season brought in better results for the company with October to December 2023 seeing increased sales to end Q4 2023 with a 15.49 percent YoY growth to 11,69,525 units up from 10,12,683 units sold in the same period of 2022. This also contributed to better H2 2023 sales which showed an increase of 4.12 percent YoY to 24,23,399 units up from 23,27,577 units sold in the same period of 2022.
Honda Special Editions and BigWing Expansion
In the past calendar year, Honda 2W has introduced several products and undertaken a host of initiatives. The Activa H-Smart was launched along with the Shine 100, SP160 and Dio 120. Special editions such as Activa Limited Edition, SP125 Sports Edition, Repsol Editions of Hornet 2.0 and Dio 125 also made their entry into the company portfolio. Models were updated to OBD-2 compliance and BigWing dealerships were also expanded to 25 cities across the country.
Honda celebrated an important milestone where the Activa scooter was concerned, marking 3 crore customers in 22 years while Honda Shine 125cc has seen sales cross the 30 lakh unit mark in western India. Special attention was also paid to road safety initiatives and Corporate Social Responsibility through the past year.
The new Honda CB350, launched in November 2023, played a significant role in increasing total sales. Honda CB350, is sold via Big Wing dealerships. It is presented in two trim levels – DLX and DLX Pro and are priced at Rs. 1,99,900 and Rs. 2,17,800 respectively.
Source: Bike - rushlane.com
