HMSI also becomes the first 100 percent subsidiary of Honda Motor Company, Japan globally to achieve the 5 million sales landmark in a single financial year.
03 Apr 2017 | 6719 Views | By Autocar Pro News Desk
Honda Motorcycle & Scooter India (HMSI) has, for the first time, crossed the 5-million mark in domestic market sales. In the process it has become the first 100 percent subsidiary of Honda Motor Company, Japan globally to achieve the 5 million sales landmark in a single financial year.
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Honda Motorcycle & Scooter India (HMSI) has, for the first time, crossed the 5-million mark in domestic market sales. In the process it has become the first 100 percent subsidiary of Honda Motor Company, Japan globally to achieve the 5 million sales landmark in a single financial year.
In 2016-17, the manufacturer has sold a record 5,008,103 units, up 12 percent year on year (2015-16: 4,483,462). Of this, automatic scooter sales crossed the 3 million mark – in another first for HMSI –to reach 3,351,604 units, up 16 percent compared to 2,892,480 units in 2015-16.
Sharing highlights of the sales performance in 2016-17, Yadvinder Singh Guleria, senior vice-president (Sales and Marketing), said: “Early in FY2016-17, especially after the monsoon and 7th CPC, industry was hopeful of double-digit growth. The second half was however a challenging time and the two-wheeler industry closed the fiscal with only 5 percent growth. Honda is today the highest volume gainer as well as the market share gainer of the industry.”
On the export front, HMSI’s shipments grew by 41 percent, increasing from 200,114 units in 2015-16 to 283,153 units in 2016-17.