Noida - Honda Cars India Ltd., (HCIL) reported a 20% growth in total sales in 2024, with 1.32 lakh units sold compared to 1.10 lakh units in 2023. This growth was primarily driven by exports, as the domestic market faced challenges. Domestic sales dropped by 18.5% in 2024 due to slow growth in the Indian passenger vehicle market and uneven demand across segments. However, December 2024 saw a 35% increase in domestic sales, reaching 5,603 units, up from 4,153 units in December 2023.
In 2024, Honda Cars achieved highest-ever export figures, shipping 63,221 units, a 145% increase from 25,854 units in 2023. The growth was largely driven by the strong performance of the Honda Elevate in international markets. In December 2024, exports reached 3,857 units, reflecting a 2.8% increase over 3,749 units in December 2023.
2024 vs. 2023: Key Performance Metrics
• Total Sales: 1,31,871 units (2024) | 1,10,143 units (2023) — 20% growth
• Domestic Sales: 68,650 units (2024) | 84,289 units (2023) — 18.5% decline
• Export Sales: 63,221 units (2024) | 25,854 units (2023) — 145% growth
Mr. Kunal Behl, Vice president of marketing and sales at HCIL, said, “2024 was a year of contrasts for the automotive industry. While domestic demand faced challenges, the focus on exports delivered strong results. 2024 presented challenges in domestic demand, but our focus on exports, led by the Honda Elevate, drove significant growth. We achieved our highest-ever export numbers, contributing to a 20% increase in overall sales and strengthening India’s role as a global key manufacturing hub for Honda. With the launch of the new Amaze and a strong commitment to the market, we are optimistic about 2025.”
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