Bad times for the auto sector continues as sales of locally assembled cars plunged 44% to 40,586 units in July-October 2019, from 72,563 units in the same period last year.
Honda Atlas has been the one suffering the most in this situation. The company which is already observing non-production days (NPDs) since July has announced to work for only 7 days in November due to miserable sales and piled-up unsold stocks. This will make the total NPDs to 85 between July and November (out of 153 days).
According to reports, Honda Atlas has witnessed a 70% decline in Civic and City sales during the first 4 months of current fiscal year. Sources within the company said there are still more than 2,400 unsold units at company’s disposal which suggest bad times will be looming for Honda Atlas in forthcoming months as well.
Honda having observed up to 18 NPDs in October rolled out only 857 units of Civic & City combined which is the lowest ever figure for the company. In the first 4 months of this fiscal year the company has sold 4,961 units of Civic & City combined whereas it sold 16,643 units in the same period of previous fiscal year.
From the looks of it, the output in November is going to be even more depressing. However still there is no plan in company’s consideration to cut prices or introduce any sort of discounts or incentives to aid the declining sales.