Improved Scooter Sales Leads HMSI To Clock Best-Ever Sales In First Quarter
Honda Motorcycle and Scooter India Pvt. Ltd. clocked its best quarterly sales in the quarter ended June due to increasing demand for scooters, the company said.
“As of June, we sold around 5.7 lakh units overall, which is close to 30 percent year-on-year growth,” YS Gulleria, vice president of sales, HMSI, said in a conversation with BloombergQuint today.
The pick up in volume growth was aided by the production capacity addition, launch of new products and expansion to new markets, he said. The company, Gulleria said, had seen some hiccups in the scooter segment at the start of the year, which are now straightening. “Lately, we're observing the trend of ‘scooterisation’ across the country and Honda is leading that market too.”
Here are the highlights of the conversation:
- Second quarter likely to be better as the consumer sentiment is positive and agrarian economy is a tailwind.
- Inflationary pressures remain due to a spike in raw material prices, but the company is able to pass on the hike to consumers.
- On its dealer network, the company said it has close to 5,700 touch points in the country, which it looks to expand to 6,000.
- Expects to maintain double-digit volume growth.
- Unicorn, Hornet and XBlade models are clocking good sales.
Watch the full conversation here: