Honda Cars India Ltd (HCIL) reported a 51.28 per cent decline in domestic sales at 8,291 units in August as against 17,020 units in the same month last year. The company also exported 227 units last month.
“The auto sector continues to witness high de-growth due to poor consumer sentiment,” HCIL Senior Vice President and Director, Sales and Marketing Rajesh Goel said in a statement.
This is despite the high discounts prevailing in the market which makes it the best time to buy cars, he added.
“We hope the recent measures taken by the government will help in improving consumer sentiment and demand creation as we move forward. With the impending festive season, the sales are likely to pick-up in coming months,” Goel said.