Honda Cars India Ltd (HCIL) experienced a significant 20% increase in total sales in 2024, selling 1,31,871 units compared to 1,10,143 units the previous year. However, the domestic sales took a hit, dropping by 18.55% to 68,650 units in 2024 from 84,289 units in 2023. The company’s statement highlighted a notable surge in exports, more than doubling to 63,221 units in 2024 from 25,854 units in 2023. In December 2024 alone, HCIL reported total sales of 9,460 units, including 5,603 domestic sales and 3,857 exports.
Challenges and Triumphs in the Automobile Industry
Kunal Behl, the vice president of marketing & sales at Honda, shared insights into the company’s performance. He acknowledged the complexities of the 2024 market, noting challenges in generating fresh demand domestically. Despite this, HCIL excelled in the global market, achieving its highest-ever exports in CY2024, primarily due to the success of the mid-size SUV, Honda Elevate.
A Glimpse into the Future
Behl expressed optimism for the upcoming year, citing the launch of a new model, Amaze, and the company’s unwavering dedication to the Indian market. He anticipates a prosperous 2025 for Honda Cars India, building on the successes and lessons learned in the previous year.
Striking a Balance in Sales Performance
The contrasting trends in domestic sales and exports for HCIL in 2024 signify the intricate dynamics of the automotive industry. While facing challenges in the local market, the company capitalized on opportunities in the global arena, showcasing resilience and adaptability in a competitive landscape.
As we reflect on Honda Cars India’s journey in 2024, we are reminded of the ever-evolving nature of the automobile sector. The balance between domestic and international sales highlights the need for strategic planning and agility in responding to market shifts. Honda’s story serves as a testament to the industry’s resilience and innovation, paving the way for a promising future ahead.
