Honda India joins the slumped market woe

The Indian auto market’s slumped condition is nothing new, as the misery of car manufacturing companies in India is a well known fact. The car giants are constantly battling against the declining sales figures that seem to be witnessing greater dips.

Honda Cars India joined the band wagon of the depressed car makers in India who are losing their sleep over the fact of dipping sales figures. Honda India has recorded a 26.5% sales decline in the month of February 2013. The exports from the company during the month of February totaled to 510 units while the total sales during the month stood at 6,510 units as compared against 8,856 units in the same month during 2012.

However, Honda Cars India Limited (HCIL), the completely owned division of Japan-based Honda Motor Company has witnessed a positive cumulative growth. In the period of April 2012 to February 2013, Honda has recorded cumulative growth of 46%. The total sales increased to 63,439 units as compared against 43,411 units sale in the same period in the preceding year.

It is the exports units that fell during February 2013, which resulted in a decline of 26.44% for the company. During February 2013, Honda sold 3,271 units of City sedan, 2,916 units of Brio, 185 units of Jazz, 21 units of Civic and 62 units of Accord sedan.

Honda hopes for a positive change in March 2013. However, the current Union Budget seems to be making the condition even worse. The rising petrol prices, as well as hiked excise duty by the Indian government are causing fresh anxiety to the car giants in the domestic market.

Meanwhile, Honda plans for its fresh launches featuring India favourite diesel cars. While Honda Amaze will be the company’s first diesel car, the Brio Diesel and new utility vehicles are also on their way.