Honda says Jan-Oct China car sales jump 31 percent
Fang Yan
Tue, Nov 13, 2007
Reuters
>SHANGHAI, Nov 13 (Reuters) - Japan's Honda Motor said on Tuesday its car sales in mainland China rose 30.9 percent on year in the first 10 months, beating a 24 percent growth recorded by the country's overall car market in the same period.
The second biggest Japanese car maker, whose models include Accord, Civic and Odyssey, sold 332,378 cars in China between January and October, up from 253,828 in the same period last year, it said in a statement.
Sales at Guangzhou Honda, its joint venture with Guangzhou Automobile Group Co. - parent of Hong Kong-listed Denway Motors - climbed 12.1 percent to 231,720 cars in the first 10 months, the statement said.
Sales at its venture with Dongfeng Motor , based in the central Chinese province of Hubei, jumped 113.9 percent to 100,658 units, it said.
In October alone, Honda sold 35,292 cars in mainland China, the world's second largest auto market, up 26.7 percent from a year earlier, the statement said.
A senior Honda executive told Reuters in April that his firm expected to sell roughly 400,000 cars in China this year, up 24 percent from 2006.
It aims to capture at least 10 percent of the China market by the end of this decade, up from around 7.5 percent last year.
