Honda Cars Sales in November: Huge Decline in Year on Year Growth

​Honda, a globally celebrated automotive brand, has long been a significant player in the Indian market, particularly excelling in the sedan segment. Renowned for its quality and reliability, Honda has successfully captivated Indian car buyers. This momentum is set to grow further with the anticipated launch of the all-new 3rd generation Honda Amaze, a sub-4m sedan poised to redefine its segment.

However, November 2024 presented mixed results for Honda Cars India Ltd (HCIL), with domestic sales showing a decline, contrasted by robust growth in exports.

In November 2024, HCIL recorded a total sales figure of 10,726 units, a combination of domestic sales and exports. The breakdown of sales performance is as follows:

​Domestic Market ​Decline

Honda’s domestic sales in November 2024 stood at 5,005 units, reflecting a significant 42.67% YoY decline compared to November 2023. This decline translates to a volume loss of 3,725 units.

On a month-on-month (MoM) basis, domestic sales also dropped compared to October 2024, when 5,546 units were sold. This represents a 9.75% MoM decline and a volume loss of 541 units, as detailed below:

The decline is attributed to a post-festive season slowdown in demand and anticipation for the upcoming launch of the new Amaze, which has likely caused buyers to hold off on purchases.

Robust Export Growth

In stark contrast to domestic performance, HCIL’s export figures soared. The company shipped 5,721 units in November 2024, achieving an impressive 80.99% YoY growth compared to November 2023. This increase resulted in a volume gain of 2,560 units.
A key driver behind this growth has been the rebadged Honda Elevate SUV, sold as the WR-V in Japan, highlighting Honda’s expanding global footprint.

Strategic Outlook and Future Prospects

The anticipated launch of the 3rd generation Honda Amaze is expected to rejuvenate HCIL’s domestic sales. According to Mr. Kunal Behl, Vice President of Marketing & Sales, the production of the new Amaze will ramp up in December 2024 to meet strong customer anticipation.
“There is a lot of excitement among customers for the new Amaze, highlighting a strong market connection for the brand,” Behl remarked.

Meanwhile, exports continue to be a bright spot for HCIL, with demand for the Elevate SUV in international markets driving growth. This dual strategy of domestic market renewal and export expansion positions Honda for a promising future.

Honda’s Current Portfolio in India

Honda’s existing lineup in India reflects its focus on catering to both urban and premium market segments.

With the launch of the new Amaze, Honda is poised to further solidify its presence in the Indian market while leveraging its export potential for sustained growth.

Also Read: Mahindra November 2024 Sales Report​