Honda Siel Cars India registers growth of 157%

Honda Siel Cars India (HSCI), leading manufacturer of premium cars in India reported a sales growth of 157% during April-June 2012 selling 20,076 units as against 7,801 units sold during the same period last year.

The company sold 2,667 units in the month of June 2012 as against 3,455 units sold in June 2011. Month on Month sales were down and the drop can largely be attributed to soaring petrol prices which has taken a toll on the sales of petrol cars.

According to Mr. Jnaneswar Sen, Sr. VP – Sales and Marketing, HSCI, “We started this fiscal year on a high note, which was clearly visible from our sales numbers in April – May 2012 backed by strong demand for Brio, Jazz and City.  However, the current macroeconomic indicators are not very encouraging.

During June 2012, we deliberately held back whole-sales to avoid stock build-up at the dealerships. The consumer sentiment is quite low, as high petrol prices along with high borrowing costs has impacted the overall demand for cars. We hope that situation improves quickly and there is recovery in the market before the festival season.”

Model wise sales break-up in June 2012:

Brio – 609

City – 1253

Jazz – 649

Civic – 58

Accord – 53

CR-V – 45