Honda Sales Report July 2023 Reveals YoY Sales Decline by 23.73%

Honda Motorcycle and Scooter in India have finally released their sales report for the month of July 2023. The sales report showed a YoY decline in both domestic & export markets but saw a minimal rise in terms of MoM sale figures. 

Total sales (combining domestic and exports) dropped by 23.73%, with 3,38,310 units sold in July 2023, down from 4,43,543 units in July 2022. This decline amounts to a decrease of 1,05,233 units in volume.

Specifically, in the domestic market, Honda's two-wheeler sales fell by 22.80% in July 2023, reaching 3,10,867 units, compared to 4,02,701 units sold in July 2022. This decline represents a decrease of 91,834 units in volume. Currently, the domestic market holds a significant 91.89% share, while exports account for a smaller 8.11% share.

However, on a positive note, there has been some improvement in sales on a month-on-month basis (MoM). Despite the overall year-on-year decline, the sales in July 2023 showed an improvement from the sales in the previous month.

In July 2023, Honda Motorcycle and Scooter India saw a significant decrease in exports by 32.81%. They exported 27,443 units, which was 13,399 units less than the exports in July 2022.

However, there has been positive growth in both domestic sales and exports on a month-on-month basis. Total sales (combining domestic and exports) rose by 4.39% in July 2023 compared to June 2023. Domestic sales increased by 2.68%, with 3,02,756 units sold in June 2023, and exports improved by 28.62%, shipping 21,337 units in June 2023.

Honda Motorcycle and Scooter India is launching a new product, the Honda SP160, on 2nd August 2023. This motorcycle falls in the 150-160cc segment and is positioned as a premium commuter bike with an expected price range of Rs. 1.05-1.15 lakh (ex-showroom).

Recently, on 31st July 2023, HMSI introduced the new Dio 125 with two variants, priced at Rs. 83,400 and Rs. 91,300, respectively. The Dio 125 competes with TVS Ntorq 125 and Suzuki Access 125, and it shares the same engine as Honda Activa 125 and Grazia 125. The company is also offering a 10-year warranty package for the Dio 125, which includes three years of standard warranty and a seven-year extension. Bookings for this scooter have started, and deliveries are expected to begin soon across the country.

Furthermore, in July 2023, Honda Motorcycle and Scooter India expanded its network presence by opening a new dealership in Purnia, Bihar, and a BigWing in Cuttack, Odisha.

Before you go, don’t forget to check out Hero MotoCorp’s sales figures for July 2023

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