Two-wheeler maker sees domestic market sales grow by 11 percent.
Honda Motorcycle and Scooter India registered a 5 percent increase in overall sales during March 2020. The Japanese manufacturer managed to sell 2,61,699 units in March 2020 whereas in March 2019, the sales numbers stood at 2,49,136 units. The 5 percent rise in overall sales includes the domestic and export market, with the latter taking a hit as the company only managed to sell 16,000 units. That said, if you take a look at domestic sales alone, Honda registered an 11 percent increase in sales, in March 2020. The company sold 2,45,699 units against 2,22,325 in March 2019.
The industry-wide slowdown and the effects of the coronavirus pandemic seems to have had little effect in the case of Honda. In fact, the company closed the April 2019-March 2020 financial year on a high, selling over 5 million two-wheelers, out of which 47,06,572 were in the domestic market alone.
While Honda's sales numbers for the month of March are positive, only time will tell the extent of impact that the COVID-19 national lockdown would have on sales in the upcoming months. Honda temporarily closed its factories on March 22, 2020, in accordance with the lockdown directives issued by the central government. The company adds that, although the lockdown is being followed, many of its employees are working from home to ensure business continuity and extending support to its business partners. Honda also cleared all dues and even issued advance payments to its partners to tide over these difficult times.
Given the extent of the damage caused by the coronavirus crisis, Honda has extended support by pledging Rs 11 crore through the Honda India Foundation. While some of the money is being transferred to the Central and State Government relief funds, some of it is being used to supply Honda engine-powered disinfectant sprayers to various Government agencies. Besides the funds generated, associates at Honda's group companies in India have come together to donate a day's salary to the relief funds. The company has also distributed food packets to the needy. Lastly, Honda has deployed the ambulances that usually are present in its factories as part of emergency services, to aid in transport of COVID-19 patients.
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