While the Indian two-wheeler industry continued to face challenges from the demonetisation drive, Honda Motorcycle and Scooter India reported positive number for the month December 2016. The two-wheeler maker reported a 66 percent jump in sales in December 2016, clocking to 26,602 units in December 2016, against 16,067 units in December 2015.
Honda’s newly launched product, the NAVI crossed the 2,000 mark in exports in December 2016. Honda Motorcycle and Scooter India also sold 4,988,512 units in January – December 2016 against 4,508,222 units in corresponding period last year, growing 50% faster than industry (7% domestic + export) in calendar year 2016. In the calendar year, Honda gained 1% market share and led the industry as Highest volume gainer of the industry (35% of all new volumes in the industry came from Honda 2Wheelers itself).
Speaking about the sales performance in the month of December 2016, Y.S. Guleria, Senior Vice President – Sales and Marketing, Honda Motorcycle and Scooter India said that Demonetization continued to negatively impact customer sentiments for the second consecutive month and domestic two-wheeler industry closed at an 80 month low of 9.09 lakh units in the traditionally lean month of December 2016. But despite continued pressures of demonetization in December, Honda sales grew over 50% faster than industry in calendar year 2016 and volumes grew by nearly half a million (0.48 million units) to 4,988,512 units.
Elaborating his views about the current financial year, Guleria further added that as the macro economic situation post demonetization is steadily improving, upcoming festive season and with expectations of a growth-propeller Union Budget, Honda is cautiously optimistic for the last quarter of current financial year; and hopes to close 2016-17 with a double digit growth.