Japanese automaker Honda’s Indian arm, Honda Siel Cars India (HSCI) has posted a decline of 20.8 percent in its sales for the month of August 2012 selling 5,470 units in comparison to 6,907 units sold in the same month in 2011.
The company’s sales for the month were led by the City sedan which sold 2,356 units and the Brio small car which sold 2,335 units, followed by 465 units sold by the premium hatchback Jazz. The premium sedan Civic by Honda sold 53 units, while the premium sedan Accord sold 34 units. The Honda CR-V from the SUV segment sold 47 units in August 2012.
The month of August also witnessed the transformation of Honda Siel Cars India from a joint venture to a wholly owned subsidiary of Honda through a share buyout maneuver in which the Japanese carmaker took over the remaining 3.16 percent share in HSCI owned by Usha International. The name of the company is also expected to be changed with the change in ownership.