HMSI sales up 68% in Dec; crosses 5 mn mark in 2017

Honda Motorcycle and Scooter India (HMSI) today reported 68 per cent jump in total sales at 3,90,420 units in December.
The company had sold 2,31,763 units in December 2016, HMSI said in a statement.
In the domestic market, the company posted 77 per cent jump in sales to 3,63,226 units in December 2017, as against 2,05,158 units in the year-ago month, boosted by low base effect of demonetisation in 2016.
For the calendar year 2017, HMSI sold a record 57,94,893 units, crossing the 5 million mark for the first time in its 17 years of operations in India, the statement said.

"New capacity expansion, three new product launches and increased network penetration in tier II and tier III markets resulted in Honda successfully breaching the 5 million sales mark for the first time in 2017," HMSI Senior VP- Sales & Marketing Yadvinder Singh Guleria said.
He said 2017 was the year of disruption for the industry and accelerated shift in customer's buying within segments saw scooters becoming popular in the traditionally motorcycle dominated states too.
On the outlook, he said:"Moving ahead, we are confident of meeting our target of 6 million unit sales in 2017-18.