BackHonda Cars sales halve to 10,250 units in July
The market continues to be tough for the auto industry with two consecutive months of high de-growthHCIL said it exported a total of 334 units during the month
PremiumNEW DELHI : Honda Cars India Ltd (HCIL) on Thursday reported a 48.67 per cent decline in domestic sales to 10,250 units in July as against 19,970 units in the same month last year.
HCIL said it exported a total of 334 units during the month.
"The de-growth in the automobile industry further intensified last month amidst weak buying sentiment and overall slowdown. We are also witnessing a lot of postponement of purchases," Rajesh Goel, senior vice president and director (sales and marketing) at HCIL, said in a statement.
He further said: "It is extremely worrisome since July 2019 decline is much severe than Q1 decline and that too when the industry had de-grown in July last year as well."
The company's July sales are on a higher base of July 2018 when all new Amaze was in its third month of launch and had clocked its highest sales in a month, Goel said.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
