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Honda Cars India sales spike by 20% in 2024, domestic sales decline 18%

Honda Cars India sales spike by 20% in 2024, domestic sales decline 18%

TOI Business Desk / TIMESOFINDIA.COM / Jan 1, 2025, 23:36 IST

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Honda Cars India Ltd reported a 20% increase in total sales for 2024, with exports more than doubling. However, domestic sales dropped by 18.55%. Notable achievements include record exports primarily driven by the mid-size SUV Honda Elevate, and anticipation for a strong 2025 with new models.

Honda Cars India sales spike by 20% in 2024, domestic sales decline 18%

NEW DELHI: Honda Cars India Ltd (HCIL) announced a 20 per cent rise in total sales for 2024 on Wednesday, with 1,31,871 units sold compared to 1,10,143 units in 2023. However, domestic sales fell by 18.55 per cent, plunging to 68,650 units in 2024 from 84,289 units the previous year.
The company statement revealed that exports jumped more than two-fold to 63,221 units in 2024, against 25,854 units in 2023.
In December 2024 alone, HCIL recorded total sales of 9,460 units, comprising 5,603 domestic sales and 3,857 exports.
Kunal Behl, vice president of marketing & sales at Honda told news agency PTI, "2024 was a mixed bag for the industry. While the domestic car market had challenges towards creating fresh demand, HCIL recorded its highest ever exports in CY2024 largely driven by exports of our mid size SUV Honda Elevate."
Looking ahead, Behl expressed optimism, "With a newly launched model (Amaze) and a strong commitment to the Indian market, we look forward to welcoming a prosperous 2025."

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TOI Business Desk

The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.

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