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Honda Cars India has posted a decline in sales for the month of July 2019 when compared to 2018. Honda recorded a decline of 48.67 percent in sales when compared to last year. This decline can be attributed to the slowdown in the Indian market and due to the high sales numbers last year.
The 2018 Honda Amaze was launched in India in May 2018. Thanks to the new Amaze, Honda's sales picked up momentum in the Indian market and Honda started doing very well in India.
Thousands of units were being sold and the Honda Amaze contributed to the overall sales at Honda. As a result, Honda Cars India sold a total of 19,970 units in July 2018. While this number was good news for Honda's sales charts last year, it is causing trouble in Honda's sales graph this year.
Honda's sales have fallen by a huge margin to just 10,250 units in July 2019. This equates to a 48.67 percent drop in sales. The excellent sales clocked by the Honda Amaze dropped gradually within a few months since its launch.
Since then, Honda has been doing decently in terms of sales. In the recent months though, major players in the Auto market have witnessed a sheer drop in sales numbers. There is no doubt about the automotive industry experiencing a slowdown.
This has further hurt Honda's performance in the market. According to the company, the decline in sales is due to weak buying sentiment and postponement in purchases.
Rajesh Goel, Senior Vice President and Director for Sales and Marketing at Honda Cars India Ltd said, "The de-growth 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 more severe than Q1 decline and that too when the industry had de-grown in July last year as well."
The official's comment on the issue at hand draws one's attention to the fact that the auto industry had a small slowdown during this period in 2018 as well, however, it wasn't as severe. It also shows that the auto industry has been declining for quite some time now.
Thoughts On Honda Posting Massive Decline In Sales Numbers for July 2019
The Indian automotive industry is surely going through a rough patch. What we're witnessing is not just a decline in sales but a paradigm shift. While mass market players like Maruti Suzuki, Honda, Tata Motors, etc, are seeing a sharp drop in sales, newcomers like the Hyundai Venue, Hyundai Kona, Kia Seltos, MG Hector, etc are seeing a massive influx of bookings.
It seems quite obvious then, that Indians want change and something new. It should be quite interesting to see how things pan out for the auto sector over the next few months.