Honda Motorcycle reports 15% jump in vehicle sales in July
Honda Motorcycle & Scooter India (HMSI) reported 15% rise in total vehicle sales at 4,43,643 units in July as compared to 3,84,920 units sold in the year-ago period. The company's domestic sales grew 18 per cent to 4,02,701 units last month as compared to 3,40,420 vehicles sold in July of 2021, the company said in a statement. However, HMSI's exports declined 8 per cent at 40,942 units in the last month.
The company expects to regain growth momentum at a faster rate in the upcoming festive season. The company's Managing Director, CEO and President, Atsushi Ogata said that factors such as good monsoon and increased demand for personal mobility has translated well to rise in customer walk-ins and enquiries.
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In a separate development, the company last month said that it has commenced exports of its 125cc motorcycle SP125 to Australia and New Zealand. Around 250 units of the motorcycle have been dispatched and will be sold as 'CB125F' in these two markets.
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The bike is currently being manufactured at HMSI's Tapukara plant in Alwar, Rajasthan. "This development marks a step towards HMSI's long-term plans to expand production capabilities in India that serve globally," Ogata said earlier.
HMSI started exports from India in 2001 with its model Activa. Currently, the company exports its 19 two-wheeler models in 38 markets which include Asia and Oceania, the Middle East and Latin America.