Honda Cars sales dip 49% to 10,250 units in July

Honda Cars India Ltd (HCIL) on Thursday reported a 48.67 per cent decline in domestic sales to 10,250 units in July as against 19,970 units in the same month last year. HCIL said it exported a total of 334 units during the month.

"The de-growth in the automobile industry further intensified last month amidst weak buying sentiment and overall slowdown. We are also witnessing a lot of postponement of purchases. It is extremely worrisome since July 2019 decline is much severe than Q1 decline and that too when the industry had de-grown in July last year as well," Rajesh Goel, senior vice president and director (sales and marketing) at HCIL, said in a statement. The market continues to be tough for the auto industry with two consecutive months of such a high de-growth, he added.

"It is unprecedented in the last two decades," Goel said.