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August 4, 2014

CHINA: Honda sales plunge 22.7% in July

After posting a 3.9% year on year unit volume fall in the US in July, Honda Motor sales in China plunged 22.7% the same month, reportedly the automaker's biggest decline there in 17 months.

After posting a 3.9% year on year unit volume fall in the US in July, Honda Motor sales in China plunged 22.7% the same month, reportedly the automaker’s biggest decline there in 17 months.

That, according to Reuters, cast doubts over Honda’s full year sales target in China.

Year to date volume rose just 6.9% to 392,959 cars versus a target of 18.9% to 900,000 for 2014. Through two local joint ventures, Honda sold 39,543 automobiles in China last month.

A Honda spokeswoman told the news agency tough competition and a seasonal demand decline were among the causes but claimed sales would rebound in the second half after new model launches (which include a small utility vehicle and the Fit/Jazz crossover variant).

Toyota’s July China sales fell 7.6% year on year with officials blaming the start of production of the redesigned, recently launched Corolla.

Japan’s Nikkei business daily reported in May Honda planned to double the number of car models it sells in China over the next two years to increase market share, Reuters noted.

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