New Delhi: Honda Cars India Ltd. (HCIL) on Wednesday reported a 78 percent year-on-year decline in total sales (domestic and exports) at 3,697 units in March 2020.
The company had registered total sales of 17,202 units in the same month a year ago, Honda said in a press release.
Exports stood at 216 units in March, it added.
For the 2019-20 fiscal, the company sold 1,02,016 units as compared with 1,83,808 units in 2018-19, down 44 percent.
Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd, “As is known, the last financial year was the most challenging for the automotive industry because of economic slowdown, poor consumer sentiment clubbed with transition challenges to BS-VI. In order to unburden our dealer network, we had drastically revised our annual volumes in September last year. In spite of the lockdown in March, we were able to almost achieve our annual business plan and also successfully liquidate the BS-IV stocks from the network.”
He further added, “The unfortunate outbreak of COVID-19 has hit us all which has impacted businesses across the world. In the current scenario, we are taking multiple measures to support our dealers and customers. We hope we are able to tide through this unprecedented crisis at the earliest.”
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