Honda Cars India Ltd. (HCIL) sold 10,250 units in July 2019 as against 19,970 units in the same month last year, registering a domestic sales decline of nearly 49%. HCIL said that the number of export units stood at 334 last month.
The degrowth in the automobile industry further intensified last month amidst weak buying sentiment and overall slowdown. We are also witnessing lot of postponement of purchases. It is extremely worrisome since Jul’19 decline is much severe than Q1 decline and that too when the industry had degrown in July last year as well – Rajesh Goel, Senior Vice President and Director, Sales and Marketing, HCIL
That was Mr. Goyal’s comment on the overall auto industry performance. “HCIL’s July’19 results are on a higher base of July’18 when all-new 2nd Gen Amaze was in its third month of launch and had clocked its highest sales in a month,” he added.
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