Honda Motorcycles and Scooters India (HMSI) has reported its sales for the fiscal year 2022-2023, with the company having sold 43,50,943 units in the previous financial year. Compared with the 37,99,680 units sold in FY2022, the manufacturer’s sales volume increased by 14.51% year-on-year. During the period, the company’s domestic sales stood at 40,25,486 units, while exports contributed 325,457 units to the total.
However, Honda’s March sales were down as cumulative (domestic + export) sales of 211,978 units fell 31.53% compared to the 309,549 units sold in March 2022. Exports increased to 14,466 units last month, an increase of 22.66% over the 11,794 units shipped overseas in the same period last year.
Also read: Honda to launch 2 electric two-wheelers with swappable batteries in India by FY2024
Last month, HMSI took a giant leap forward into the mass-market segment with the launch of the Shine 100. The entry-level commuter bike is Honda’s most affordable bike yet and takes on giant Hero MotoCorp in semi-urban and rural areas. The company has also updated several models, including the Activa 125 H-Smart, SP 125 and CB350 series, to the latest OBD2 complaint specifications.
In March, Honda also announced its EV strategy in India, promising to launch two new EVs by 2024. The company will also build charging infrastructure, including swap stations, to facilitate an easy transition to electric vehicles. While the manufacturer didn’t reveal details about its upcoming EV, the model is expected to be an electric version of the popular Activa 6G.
Also read: India’s Honda two-wheeler to increase production as exports expand to 58 countries
In addition, Honda will expand its Narsapura factory in Karnataka state with a new scooter assembly line to meet more demand from the domestic and export markets. The manufacturer will also expand its export operations to 58 countries from the current 38 in fiscal 2024. Last financial year, Honda started exporting the SP125 to Australia and New Zealand, while Unicorn Motorcycles started exporting to Africa. It also marks HMSI’s foray into the African continent. The Honda Dio is the brand’s most exported scooter, while the Navi is the brand’s most exported two-wheeler.
First published date: April 4, 2023 at 18:54 PM CST
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