Buoyed by City, Amaze, Honda Cars India sees 7% rise in domestic sales in 2022

Honda Cars India has reported a 7 per cent rise in its total domestic sales in 2022 at 95,022 units as compared to 89,152 units sold in the domestic market in 2021. The company's exports grew by 43 per cent at 23,428 units in 2022 as against 16,340 units exported in the previous year.

The company said that the volumes were driven by Honda City and Amaze. Both the models became the strong performers of the year 2022. However, chip shortage impacted the production of the company. "We had to realign our targets due to chip shortage, which impacted our production throughout the year," said the company's Director - Marketing and Sales, Yuichi Murata.

Sharing his outlook for the new year, Murata said that the company has stepped into the year with renewed optimism. “We have stepped into the new year 2023 with renewed optimism assured by the positive performance of last year," he said, adding that to make the overall environment encouraging and positive, the key to success will depend on how disruptions like chip shortage are controlled to minimise the business impact.

Recently, the company announced a partnership with Indian Bank in order to offer attractive financial schemes to its potential customers. The company claims that the partnership allows for special offers, easy instalment and flexible policies that allows for a simplified buying process.

The partnership between Honda Cars India and Indian Bank puts forth facilities like easy loan disbursement as well as affordable financial schemes on all the car models currently available from the Japanese brand in the country.

In a separate development, the company has hiked prices of its entire model range by up to ₹30,000 from January next year and will help the company offset the impact of rising input costs and prepare products in compliance with upcoming stricter emission norms.