Honda Cars India profits in April 2014

International carmakers Honda and Ford are the only two which have posted increase in sales during April 2014 while others like Maruti, General Motors, Mahindra and Mahindra have all posted sales decline ranging from 5 – 9 percent due to overall sales of 163070 units. During April 2014, Honda has been able to sell around 11,040 units depicting increase of 30 percent when compared with 8488 units in April 2013. Excise duties introduced by government for the automobile sector during Feb 2014 were to help automakers reduce prices of their products by 5 – 8 percent across models and stimulate demand.  However it does not seem to have made much impact as sales for second consecutive month have fallen by 6 percent.

India’s largest carmaker Maruti Suzuki has said that its domestic sales during April 2014 has fallen by 12 percent while sales of Hyundai India’s number two has risen by a marginal 8 percent while  Toyota fell by 16 percent and worst affected General Motors fell by 35 percent. Hyundai’s managed to retain its status due to launch of Grand i10 hatchback and Xcent  compact sedan followed by SUV Santa Fe all of which have helped the firm sell 35248 units during this period.  Markets have recently witnessed an increased in demand for compact vehicles both in sedan and SUV category therefore Honda and Hyundai and Ford have managed to register an increase in sales of their models.

While Ford’s India division has announced an increase of 83 percent in sales during April 2014 due to its popular models Ecosport and Endeavour both of which showed healthy spike in demand. This year Ford has managed to sell nearly 1500 more units than they did in March 2013 as they sold 13297 units which depict combined figures of domestic and international sales. Though the firm found it difficult to deliver new units of Ford EcoSport it has managed to deliver 6651 units in April showing growth of 66 percent it has exported 6646 units during same period.  Ford India has managed to improve its sales in both domestic and international markets despite facing economic challenges.

According to Honda’s VP sales and Marketing the brand has started the year 2014 on a positive note with steady increase in sales since November 2013 which has continued its momentum into 2014. Based on sales of its two popular models Amaze and City sedan, Honda has registered increase of 30 percent in April 2014 therefore it has now introduced the Honda Amaze anniversary edition to meet demand. Honda’s exciting sedan City contributed to major part of profits by clocking sakes if 7044 units in April 2014 followed by exports of 402 units. The popularity of City and Amaze has been largely assisted by their availability in various engine power combinations and fuel options. Honda’s new diesel engine the iDTEC used in Honda City and Amaze are extremely fuel efficient and also emits less pollutants therefore is well received by Indian customers.