Honda Cars India Showed 20 Percent Sales Growth in 2024 and 144 Percent growth in Export

In comparison to the previous year, Honda Cars India Ltd. (HCIL) recorded a remarkable 20% increase in overall sales for the calendar year 2024 (CY 2024), reaching 1,31,871 units. Consistent domestic demand and an increase in exports were the main drivers of the expansion, with the Honda Elevate SUV being a key component of the latter. 

December 2024 Sales Performance

In December 2024, Honda recorded a mixed performance:

• Total Sales: 9,460 units, a decline of 18.81% compared to December 2023 (11,651 units).
• Domestic Sales: 5,603 units, down 29.09% from 7,902 units in December 2023.
• Exports: 3,857 units, showing a marginal growth of 2.88% over 3,749 units in December 2023.

Q4 2024 Performance

For the last quarter of 2024, the sales performance exhibited notable trends:

• Total Sales: 10,726 units, reflecting a 9.80% decline compared to Q4 2023 (11,891 units).
• Domestic Sales: 5,005 units, a sharp drop of 42.67% from 8,730 units in Q4 2023.
• Exports: 5,721 units, a remarkable growth of 80.99%, up from 3,161 units in Q4 2023.

Key Highlights of CY 2024

• Total Sales: 1,31,871 units, marking an increase of 19.73% (21,728 units) compared to CY 2023.
• Domestic Sales: 68,650 units, a decline of 18.55% from 84,289 units in CY 2023.
• Exports: 63,221 units, an extraordinary 144.53% increase from 25,854 units in CY 2023.

Strategic Achievements

The significant increase in exports demonstrates Honda's ability to establish India as a major base for global manufacturing. One major factor in this increase in exports was the Honda Elevate SUV. The third-generation Amaze's December 2024 launch received a great reception from the market despite local obstacles, expanding Honda's lineup. With the announcement of the Elevate Black Edition, Honda hopes to increase its market share.