Honda Motorcycle and Scooter India posted cumulative sales of 2,11,978 units in the month of March 2023. This marked a notable 34 per cent decline in cumulative sales year-on-year and a 14 per cent decline month-on-month. HMSI had reported cumulative sales of 3,21,343 units in March 2022 while sales in February 2023 stood at 2,47,175 units.
While no longer on sale in India, the Navi is Honda's most exported model.
Domestic sales during the month stood at 1,97,512 units – down from 3,09,549 units a year ago, though exports were a different story. As compared to a year ago, Honda’s exports grew 22 per cent from 11,794 units in March 2022 to 14,466 units last month. Part of this export growth has been down to the brand pushing new models to existing global markets as well as entering new markets. Notable examples included the launch of the SP125 in Australia and New Zealand as well as entering the Nigerian market with the Unicorn.
For the financial year 2022-2023, HMSI reported total sales of 43,50,943 units – up 14.5 per cent from 37,99,680 units retailed in the last financial year. Total domestic sales stood at 40,25,486 units while total exports stood at 3,25,457 units. Cumulative domestic sales were up from 34,68,828 units in FY2022 though exports were down as compared to 3,30,852 units in the last financial year.
