Auto sales July 2024: Honda see a dip in monthly sales

Honda Motorcycle & Scooter India's sales performance in July 2024 saw a decline on a month-on-month basis. Domestic sales dropped 8.97% compared to June 2024, with 439,118 units sold. Total sales stood at 483,100 units, a 6.87% decline from June 2024. Sluggish sales in rural areas contributed to this decline, as purchasing power was diverted to farm activities during the peak agricultural season. Exports, however, bucked the trend, surging 21.54% from June 2024, with 43,982 units shipped abroad. This growth can be attributed to increased demand for two-wheelers in international markets.

On a year-on-year basis, Honda's sales showed robust growth. Domestic sales increased by 41% compared to July 2023. Exports saw a significant surge of 60% during the same period. Total sales for July 2024 grew by 43% compared to July 2023. This indicates a strong underlying demand for Honda's products in the domestic and international markets. Notably, this year-on-year growth comes with a good margin, suggesting a positive trend for the company's sales performance.

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Looking ahead, Honda is poised to make a significant impact in the electric mobility space. The company plans to launch its electric scooter by the end of this year. This move is expected to create a new wave in the market, establishing Honda as a key player in India's electric two-wheeler segment.