Honda Forecasts High Double Digit Losses This Year

2020 2-wheeler sales forecast is very negative and it will only take a miracle to see any significant growth from here on…

2020 would be a year that everyone would pray to get over very soon. We are in the second quarter of the year and have already faced one of the worst ever pandemic that has stalled the economy and is causing massive devastation to mankind! In these few days we have also heard about the loses of two great Bollywood actors – Irrfan Khan and Rishi Kapoor.

The overall sentiments are very negative and once this gets over, we would never want to remember this year of 2-0-2-0!

Anyway, 2019 was already a terrible year for the two-wheeler industry. With the exception of Suzuki, each and every maker suffered hefty degrowth. The quantum of the condition can be understood by the very fact that the second best was Honda with a loss of almost 15 percent (here are the numbers)!

Now with the pandemic playing havoc and the first month of the new fiscal (April 2020) completely gone without a single sale, makers are not very hopeful of a very bright future for the remaining eleven months of this financial year.

2020 2-wheeler sales forecast
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2020 2-wheeler Sales Forecast

Yadvinder Singh Guleria, Senior Vice President at Honda Motorcycle & Scooter India, forecasts a high double digit degrowth in an interview. He says a major time will be gone in things getting settled and even then the impact can not be predicted.

Now Covid is having a global impact on an unprecedented scale. So it is very difficult to predict but surely it is going to slide down from here. Our forecast on the two-wheeler industry in FY20 is high double-digit degrowth.

Even after lockdown, it will take time for things to settle down. The first six months will be a rebooting process of economic activities, with a lot of reverse migration, supply chain management and health and safety issues at the workplace.

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Honda is left with updating a major portion of its products to Bharat Stage 6 and in the process we may see lot many of them getting dropped as makers would want to play safe and invest in resources with extra caution.

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Source – Economic Times