Honda April 2024 Sales Sees 45% YoY and 40% MoM Growth

Analysing the MoM sales figure, Honda sales performance remained positive in April 2024. Domestic sales have increased by 34.31% compared to March 2024, with 1,22,895 units of increased production. Moreover, exports number has increased impressively, compared to 28,304 units sold in March 2024, Honda increased its figure by 115.16%, producing 60,900 units for export. This month-on-month growth has highlighted Honda's agility in adapting to changing market dynamics and sustaining sales momentum across all segments.

Segment-Wise Breakdown:

Domestic Sales: Honda's domestic sales performance in April 2024 was particularly noteworthy, with a total dispatch of 4,81,046 units. This substantial growth of 42 percent year-on-year underscores Honda's strong foothold and enduring popularity in the Indian two-wheeler market. The month-on-month increase of 34.31 percent further highlights Honda's ability to cater to domestic consumer demand effectively.

Export Sales: Honda's export figures saw a significant upsurge in April 2024, reaching 60,900 units. This represents a remarkable 67 percent year-on-year growth, indicating Honda's increasing global competitiveness and market penetration. The substantial month-on-month growth of 115.16 percent underscores Honda's success in capitalizing on international market opportunities and expanding its export volumes.

Strategic Initiatives

To strengthen its market position Honda took several strategic steps in April 2024. The company has inaugurated a new engine assembly line at the Manesar facility in Gurugram, focusing on Completely Knocked Down (CKD) exports emphasising on Honda’s plans to expand its manufacturing capabilities to meet the increment export demands.

Honda has also achieved sales of 8 million units in Eastern Indian Region, which is the outcome of the acceptance and market penetration of the brand in key regional markets.Apart from the popular segments, Honda has also expanded its premium Big Wing and Red wing dealerships to increase all segments of customer engagement.

CarBike360 Says

Honda’s  April 2024 sales report reflects an impressive performance, highlighted by robust YoY and MoM growth in both domestic and export segments. With robust sales figures, strategic initiatives, and new expansion strategies, Honda continues to maintain its position as a leading player in the Indian two-wheeler market.