Car maker Honda Siel Cars India (HSCI) today reported 22.81% dip in its sales for June at 2,667 units.
The company, which is a joint venture between Japanese auto major Honda and the Siel Group, had sold 3,455 units in the same month last year, HSCI said in a statement.
"During June 2012, we deliberately held back whole-sales to avoid stock build-up at the dealerships. The consumer sentiment is quite low, as high petrol prices along with high borrowing costs have impacted the overall demand for cars," HSCI Senior Vice-President (Sales and Marketing) Jnaneswar Sen said.
"We hope that situation improves quickly and there is recovery in the market before the festival season," Sen added.
During the month, the company sold 1,253 units of its flagship sedan City and 609 units of its small car Brio. It also sold 649 units of the premium hatchback Jazz and 58 units of sedan Civic.
Besides, HSCI sold 53 units of the premium sedan Accord and 45 units of sports utility vehicle CR-V in June 2012.