Japanese two wheeler major Honda almost touched 5 million mark in sales in India in 2016, recording its highest ever sales.
Despite the demonetization impact in December, Honda sales jumped over 50 percent faster than industry in 2016 and volumes increased by nearly half a million to 4,988,512 units, up from 4,508,222 units sold in 2015. During this period, Honda gained 1 percent market share.
“Demonetization drove two-wheeler industry to close at an 80 month low of 9.09 lakh units in the traditionally lean month of December 2016, said Y.S. Guleria, Senior VP–Sales & Marketing, Honda Motorcycle and Scooter India.
As the macro economic situation post demonetization is steadily improving, upcoming festive season and with expectations of a growth-propeller Union Budget, Honda is cautiously optimistic for the fourth quarter of the current fiscal and hopes achieve 2016-17 with a double digit growth, Guleria added.
Meanwhile Honda’s exports increased by 66 percent to 26,602 units in December 2016 from 16,067 units shipped a year ago and while the company sold 231,654 units in December 20166 with NAVI exports crossing the 2,000 mark.