HMSI Posts 35 Pc Drop In Two-Wheeler Sales To 2,80,381 For November, Auto News, ET Auto
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Bombay:
Honda Motorcycle and Scooter India (HMSI) on Wednesday reported an almost 35% year-over-year decline in two-wheeler sales to 2,80,381 units for November. The supply side challenge, the season associated with moderate sales for the holiday season, were among the factors impacting volumes in November, HMSI said in a statement.The Indian branch of the Japanese two-wheeler had sold a total of 4,333,207 units, including exports, as of November 2020, the company said.
Domestic sales fell nearly 38% to 2.56,170 vehicles the previous month from 4.12,642 vehicles in November 2020, he said.
However, exports during the month rose 18% to 24,211 vehicles from 20,565 units shipped the same month last year, the company said.
“In addition to the supply side challenge of chip shortage in the recent past and a subdued holiday season, weak market sentiment continued to prevail in November,†said Yadvinder Singh Guleria, Director (sales and marketing) of Honda Motorcycle & Scooter India Pvt Ltd.
“However, we expect market sentiment to pick up by the last quarter of FY21-22,†he added.
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The company had recorded total sales of 5,266,866 units in the same month last year, HMSI said in a statement. Domestic sales in September of this year amounted to 4,63,679 units compared to 5,00,888 units the previous month.
HMSI currently offers two products – CB350 and CB350RS – in the mid-size motorcycle segment. The company is targeting sales of 300,000 units per year in the category over the next three years with the new portfolio of locally produced mid-size motorcycles.
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