City & Amaze help Honda Cars India grow 7% in sales in FY2023
Honda Cars India announced that its domestic sales for FY2022-2023 stood at 91,418 units, registering a hike of seven per cent year-on-year, when compared to 85,609 units sold in FY2022. The company said that it exported 22,722 units during the previous fiscal, which grew by 17 per cent over 19,401 units shipped overseas in FY2021-2022. The Honda City and Amaze were the major growth drivers for the company, as several models were discontinued from the brand’s lineup in the last fiscal.
For sales in March 2023, Honda Cars India’s domestic volumes stood at 6,692 units, remaining nearly flat as against 6,589 units sold in March 2022. Exports stood at 2,243 units, which grew marginally over the 2,243 units shipped overseas in March 2022.
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Honda Cars India said that the Amaze’s sales have grown by 33 per cent in the last financial year, making it a popular seller in the subcompact sedan segment. Meanwhile, the Honda City is a hot seller for the company despite new competition coming from the Volkswagen Virtus, Skoda Slavia and more recently the Hyundai Verna.
Speaking about the fiscal sales performance, Yuichi Murata, Director - Marketing and Sales at Honda Cars India Ltd said, “We are pleased to report that our sales for the Financial Year 2022-23 have met our expectations. Honda Cars India has achieved a domestic sales growth of 7%, driven by the strong and positive sales momentum of our models specifically the Amaze and City. The Amaze’s sales have grown by 33 per cent in the last fiscal year being one of the most preferred family sedans in India. The Honda City continues its legacy of success by being the largest-selling mid-size sedan in the country last year. Our sincere gratitude to our customers, dealers and suppliers for their strong support to Honda brand in India. Our export performance also has been very good in FY 22-23 with the growth of 17 per cent."
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Honda trimmed its model lineup last year discontinuing the fourth-generation City, Amaze diesel, WR-V, and Jazz models from the Indian market. With the latest emission regulations in place, the company has now moved to a pure petrol and petrol-hybrid strategy for its current and future products. It now retails only the fifth-generation City and Amaze petrol. That said, the automaker will bring an all-new compact SUV to the market by the festive season this year. A subcompact SUV is also said to be in the works.
