Japanese carmaker Honda’s Indian arm, Honda Siel Cars India (HSCI) posted a decline of 22.81 percent in its sales in the month of June 2012 selling 2,667 units in comparison to 3,455 units sold in the same month in 2011.
According to Mr. Jnaneswar Sen Senior Vice-President (Sales and Marketing) HSCI, the company reduced wholesales to prevent stock pile-up at the dealerships due to low demand and sales in the Indian auto market. He added that the consumer sentiment has been low due to high fuel prices and high interest rates contributing to the sluggish sales.
The Japanese automaker’s sales comprised 1,253 units of the City sedan, 609 units of the Brio hatchback, 649 units of the Jazz premium hatchback, 58 units of the Civic sedan, 53 units of the Accord premium sedan and 45 units of the CR-V SUV.