Honda Cars India Achieves 20% Sales Growth in 2024

1 Jan 2025 , 11:08 PM

Honda Cars India Ltd (HCIL) reported a 20% growth in total sales for 2024, with 1,31,871 units sold compared to 1,10,143 units in 2023.

Domestic sales declined by 18.55%, recording 68,650 units in 2024, down from 84,289 units in 2023. The company achieved significant growth in exports, more than doubling to 63,221 units in 2024 from 25,854 units in 2023. In December 2024, HCIL sold 9,460 units, including 5,603 units in domestic sales and 3,857 units in exports.

Kunal Behl, HCIL’s Vice President of Marketing & Sales, highlighted the challenges in the domestic market in 2024, which affected fresh demand creation.

Despite domestic challenges, HCIL recorded its highest-ever exports in 2024, primarily driven by the success of the mid-size SUV Honda Elevate. The company remains optimistic about the future, with plans to build on its success in exports and strengthen its presence in the Indian market.

The recent launch of the Honda Amaze is expected to play a significant role in achieving HCIL’s goals for 2025. HCIL was established in 1995 as Honda Siel Cars India, becoming a wholly owned subsidiary of Honda Motor Co. Ltd in 2012.