HMSI posts 35 pc decline in two-wheeler sales to 2,80,381 units for Nov, Auto News, ET Auto

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"Adding to the supply-side challenge of chip shortage in the recent past and a subdued festive season, low market sentiments have continued to prevail in the month of November," said Yadvinder Singh Guleria, director (sales and marketing) of Honda Motorcycle & Scooter India Pvt Ltd.
“Adding to the supply-side challenge of chip shortage in the recent past and a subdued festive season, low market sentiments have continued to prevail in the month of November,” said Yadvinder Singh Guleria, director (sales and marketing) of Honda Motorcycle & Scooter India Pvt Ltd.

Mumbai: Honda Motorcycle and Scooter India (HMSI) on Wednesday reported a nearly 35 per cent year-on-year decline in two-wheeler sales to 2,80,381 units for November. Supply-side challenge, season coupled with subdued festive season sales, were among the factors impacting the volumes in November, HMSI said in a statement.

The Indian arm of the Japanese two-wheeler had sold a total 4,33,207 units, including exports, in November 2020, the company said.

Domestic sales fell nearly 38 per cent to 2,56,170 vehicles in the previous month as compared with 4,12,642 vehicles in November 2020, it said.

However, exports during the month rose 18 per cent to 24,211 vehicles as against 20,565 units shipped out in the same month last year, the company said.

“Adding to the supply-side challenge of chip shortage in the recent past and a subdued festive season, low market sentiments have continued to prevail in the month of November,” said Yadvinder Singh Guleria, director (sales and marketing) of Honda Motorcycle & Scooter India Pvt Ltd.

“However, we are expecting some revival in market sentiments by last quarter of FY21-22,” he added.

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The company had posted total sales of 5,26,866 units in the same month last year, HMSI said in a statement. Domestic sales in September this year stood at 4,63,679 as against 5,00,888 units in the year-ago month.

HMSI currently has two products – CB350 and CB350RS – in the mid-weight motorcycle segment. The company is targeting sales of 300,000 units per annum in the category in the next three years with the new portfolio of locally produced midsize motorcycles.