Sales Report February 2023: Honda Sees a 21% Decline Overall

Published at March 3, 2023 by BikeJunction

Sales Report February 2023: Honda Sees a 21% Decline Overall

Honda Motorcycle and Scooter India (HMSI) has released its sales report for the month of February 2023. Looking at the numbers, it’s rather unfortunate that the company’s sales fell both on YoY and MoM basis. As a result, a total of 20.93% YoY de-growth was witnessed, with 2,96,363 units sold in Jan 2023, as opposed to 3,12,621 units sold in Feb 2022.

Honda 2W Sales Feb 2023

Honda 2W Sales	Feb 2023	Feb 2022	Difference	Growth % YoY	% Share Feb 2023
Domestic	2,27,064	2,85,677	-58,613	-20.52	91.86
Exports	20,111	26,944	-6,833	-25.36	8.14
Total	2,47,175	3,12,621	-65,446	-20.93	100.00

Two-wheeler domestic sales and exports both saw a decrease in the month of Feb 2023 for Honda. As a result, the total sales were figured at 2,47,175 units in Feb 2023, out of which domestic sales were at 2,27,064 units as opposed to 2,85,677 units sold in Feb 2022, accounting for a 20.52% YoY de-growth. As a result, there were 58,613 units that were less than the last year in the same month, accounting for a 91.86% share.

Exports didn’t see any growth either, instead fell by 25.36% YoY from 26,944 units exported in Feb 2022 as compared to 20,111 units in Feb 2023. Sales volume de-growth was seen at 6,833 units accounting for an 8.14% share.

YTD Honda 2W Sales	Feb 2023	Jan 2023	Difference	Growth % MoM	% Share Jan 2023
Domestic	2,27,064	2,78,143	-51,079	-18.36	93.85
Exports	20,111	18,220	1,891	10.38	6.15
Total	2,47,175	2,96,363	-49,188	-16.60	100.00

Taking a look at their MoM sales, the total sales were analysed in red, with a 16.60% fall from 2,96,363 units sold in Jan 2023. As a result, a total volume de-growth of 49,188 units was witnessed. Domestic sales took a major dip of 18.36%, with 2,78,143 units sold in Jan 2023. However, exports ended up seeing a more positive growth of 10.38%, with 18,220 units exported in Jan 2023.

Honda has been working on launching a new 100cc bike, and a teaser for the same has recently been released. It is expected to give direct competition to India’s highest-selling and most popular bike- Hero Splendor. Furthermore, it might likely be called Honda Shine and will be launched on 15th March. Read more about Honda’s 100cc new upcoming 100cc bike here!

Are you searching for a new bike? Explore bikejunction & compare your choice of bike, we will help you out with a bike loan. Select your bike according to category and other specifications on Bike Junction with just one click. Follow our news section or Social Media handles to get the latest news & updates related to the bike industry in India.

Follow us for Latest Bike Industry Updates
Facebook - https://bit.ly/BikeJunction_offl_fb
Instagram - https://bit.ly/BikeJunction_ofl_insta
Twitter - https://bit.ly/BikeJunction_ofl_twitter
Youtube - https://bit.ly/BikeJunctionYUT