Moneycontrol Be a Pro
Get App
Last Updated : Jun 01, 2019 08:39 PM IST | Source: PTI

Honda Cars sales dip 28% to 11,442 units in May

HCIL said it also exported a total of 450 units during last month.

Honda Cars India Ltd (HCIL) on June 1 reported 27.87 percent decline in domestic sales to 11,442 units in May as against 15,864 units in the same month last year.

HCIL said it also exported a total of 450 units during last month.

"The market continues to be tough for the auto industry with two consecutive months of such a high de-growth. It is unprecedented in the last two decades.


"After elections, we were expecting an upswing which has not yet come. Factors like liquidity that is affecting capital to auto sector along with increase in fuel prices have remained a challenge to revive consumer sentiments," HCIL Senior Vice President and Director, Sales and Marketing Rajesh Goel said.

The company is still hopeful that sales will revive due to favourable indicators on monsoon and expected actions by the new government, Goel noted.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jun 1, 2019 08:33 pm
Follow us on
Available On