Honda Cars India Ltd. (HCIL) achieved domestic sales of 7,902 units, marking a growth of 12%, and recorded exports of 3,749 units, indicating a substantial growth of 170% in December 2023 compared to the same period the previous year.
In contrast, during December 2022, the company reported 7,062 units in domestic sales and exported 1,388 units.
Yuichi Murata, Director of Marketing and Sales at Honda Cars India Ltd., commented on the positive sales momentum in December, attributing it to the successful deliveries of the new SUV Elevate to customers. Murata highlighted that alongside the popular models City and Amaze, the Elevate has become a significant contributor, accounting for over 50% of the total HCIL sales.
Moreover, the company achieved its highest-ever monthly export volume of 3,749 units from India, indicating robust growth in the international market. Murata expressed optimism for 2024, anticipating continued success in sales and market potential.
In a noteworthy development reported by Autocar Professional last year, Honda Motor Company plans to source vehicles “Made in India” into its home market, Japan, for the first time in 2024. Honda Cars India aims to export a substantial 30,000 to 50,000 units of the recently launched mid-size SUV Elevate back to Japan, signaling a strong endorsement of the quality of cars manufactured in India for sophisticated markets.
While specific financial projections remain undisclosed, estimates suggest that this initiative could result in an export turnover of over Rs 5,000 crore for the company. This ambitious export plan represents a historic milestone for Honda Cars India, making it the highest volume export and the first instance of exporting such significant volumes back to Japan from India. Suzuki Motor Corporation is also anticipated to follow suit in sending vehicles back to Japan.