Auto Sales June 2024: Honda Sells 5,18,799 Units

Honda Motorcycle & Scooter India has accelerated its growth in June 2024 recording a remarkable 60% year-over-year (YoY) increase in total sales compared to June 2023. We have also compared the sales of the previous month to give a better picture of the company’s situation in the current market. 

Domestic sales exhibited a modest increase of 5.44% compared to May, reaching 4,82,597. This indicates a continued, but slowing, growth trajectory for domestic sales. On the other hand, exports witnessed a decline of 12.68%, dipping to 36,202. This could be attributed to a number of factors, such as global economic conditions or temporary disruptions in export channels. Overall, total sales managed a slight uptick of 7.10%, amounting to 5,18,799.

However, if we look at broader trends, domestic sales appear to be significantly up by 59% compared to the same period last year. This suggests a strong underlying demand for domestic products. Exports, on the other hand, also show a positive trend, with a YoY growth of 70%. This indicates that despite the month-on-month decline, exports remain healthy compared to the previous year.

This can be attributed to seasonal fluctuations or other factors that impacted export markets in June. Despite the decline in exports compared to May, Honda's overall sales for June 2024 were still significantly higher than June 2023.

Beyond the impressive sales figures, Honda's June performance was marked by several key initiatives. The company expanded its dealership network with a new outlet in Shillong, Meghalaya, solidifying its presence in the North-East. 

On the racing front, IDEMITSU Honda riders delivered strong performances, and the Honda India Talent Cup saw a new leader emerge. Looking ahead, Honda is poised to embrace the future of electric mobility with the anticipated launch of its electric scooter. The company is expected to unveil its much-anticipated electric two-wheeler by the end of this year. This should create a new wave in the market putting Honda’s name on the electric mobility market in India. Read more about it here.