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

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 said

twitter-logo PTI   New Delhi     Last Updated: June 2, 2019  | 07:25 IST
Honda Cars sales fall 28% to 11,442 units in May
Honda Cars India posts 27.87 per cent decline in domestic sales to 11,442 units in May

Honda Cars India Ltd (HCIL) Saturday reported 27.87 per cent 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" the company said.

"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.

Also Read:Slowdown blues: Tata Motors domestic sales drop 26% to 40,155 units in May; weak market sentiment weighs

Also Read:M&M sales down 3% at Rs 45,421 units in May, exports decline 22%

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