New Delhi: Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, registered monthly domestic sales of 11,442 units in May 2019.
HCIL also exported a total of 450 units in May 2019.
Mr. Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd said, 'The market continues to be tough for the auto industry with two consecutive months of such a high degrowth. It is unprecedented in the last two decades. After elections, we were expecting an upswing which has not yet come. Factors like liquidity that is affecting capital to auto sector alongwith increase in fuel prices have remained a challenge to revive consumer sentiment. We are still hopeful that demand will revive due to pent up demand, favourable indicators on monsoon and expected actions by the new government.'
The company's May'19 results are on a higher base of May'18 when All New 2nd Gen Amaze was launched and the company sold 15,864 units.
(C) 2019 Electronic News Publishing, source ENP Newswire