Honda Crosses 5 Million Sales In A Single Fiscal Year

Honda Motorcycle and Scooter India (HMSI), a subsidiary of Honda Motor Company, has reached yet another milestone by crossing the 5 million sales mark, at 50,08,103 units in the financial year 2016-17. The company has registered a growth of 12% on a year-on-year basis and enjoys a 27% market share in FY 16-17. Honda’s recent fire sale of BS III vehicles could also be attributed as one of the reasons to the achievement of this milestone.

Commenting on Honda’s market performance, Yadvinder Singh Guleria, Senior Vice President - Sales and Marketing, HMSI, said, “In the beginning of FY’2016-17 especially after monsoon and seventh Central Pay Commission, the industry was hopeful of double-digit growth. The second half was, however, a challenging time and two-wheeler industry closed the fiscal with only 5% growth. In this context, we are humbled by the confidence of customers in Honda brand.”

When it comes to automatic scooters alone, Honda has crossed 3 million sales mark and now stands at 33,51,604 units, which resulted in a 16% growth year-on-year. The export industry has witnessed a slowdown of 6% but Honda’s exports grew by 41%, increasing from 2,00,114 units in FY’15-16 to 2,83,153 units in FY’16-17. Honda has also switched over to BS-IV emission norm vehicles and is hoping that demand for scooters will further fuel its growth in the coming years.