Signalling increased positivity in market, Honda Motorcycle and Scooter India Pvt. Ltd. (HMSI) closed October’20 with positive YOY sales growth for the third consecutive month in FY’20-21.
After breaching the 5 lac unit sales level in September’20, Honda total two-wheeler sales closed at a higher level of 527,180 units with a 2% growth over 517,845 units sold in October’19.
Buoyed by increase in demand during festivals amidst slew of its new BS-6 models now available in the market, Honda’s domestic two-wheeler sales were up 1% to 494,459 units in Oct’20 compared to the 487,819 units sold in the same month last year.
Parallely, backed by increased demand of its models in other markets and exports of its first BS-6 motorcycle to Europe, Honda registered 9% growth in exports to 32,721 units in Oct’20 (compared to 30,026 units in Oct’19).
Commenting on the October’20 sales and prevailing market sentiments, Mr. Yadvinder Singh Guleria, Director – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said,
“Ending October, nearly 100% of our network is opened and charged up post recording YOY increase in retails during the first 2D’s of festival (Durga Puja and Dussehra). Riding into the festive season on a high note, our newly launched H’ness-CB350 has garnered great response in a short span of time. In less than 1 month of start of sales of our debut 350ccc mid-size motorcycle, our production is booked till November, even as new bookings continue to rise. With the comeback of positive sentiments in the market, Honda is all geared up for final 2D’s of festival – Dhanteras & Diwali with strict safety measures in place across all our touchpoints.”
Key Highlights for October 2020:
· Honda starts delivery of H’ness CB350, offers attractive benefits for festival: In October, Honda commenced with the production, dispatch and delivery of its first mid-size Make in India motorcycle – H’ness CB350 at a price of Rs 1.85 lakh. With a bouquet of retail finance offers, customers can now get benefits up to Rs. 43,000 along with a spectacular 5.6% interest rate, up to 100% finance and convenient EMI starting Rs. 4,999 only.
· Honda 2Wheelers India expands BigWing network: Honda recently inaugurated 2 exclusive BigWing Topline network in Mumbai and Bengaluru. With its iconic silver wing-mark, Honda BigWing Topline will now deliver a differentiated immersive experience for Honda’s premium motorcycle customers in West and South, in addition to the existing BigWing Topline in North (Gurugram).
· Exports development: Honda started the exports of its first BS6 motorcycle to Europe with the next generation 125cc motorcycle – SP125 to Europe, via the CKD route.
· Brings Super Savings with Super 6 offer: Unleashing more festive cheer for its customers, Honda announced the Super 6 offer for the festival period with big savings of up to Rs 11,000 on retail finance. Customers can avail up to 100 per cent finance with low-interest rates, choose 50 per cent discount on EMI scheme, get cashback up to Rs 5,000 on a credit card or debit card EMI, or receive benefits up to Rs 2,500 on purchase through Paytm.
· Kerala milestone: Celebrating the trust of customers and consolidating its market leadership further, Honda 2Wheelers India proudly crossed momentous 25 lakh sales milestone in the state of Kerala.
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