Honda China's terminal sales fell in July, but sales of electric models continued to rise

According to data released by Honda China, as of July 2023, Honda’s terminal car sales in China were 89,691 units, a significant decrease from the same period last year. At the same time, the cumulative sales from January to July were 619,382 vehicles, of which 132,896 were electrified models, showing that the Chinese market continues to be interested in electric vehicles

Compared with previous IT House reports, Honda’s sales in China Sales dropped sharply in July this year. Specifically, in July 2022, Honda sold 133,600 vehicles in China, while sales in June 2023 were 113,133 vehicles, showing that sales in July this year were relatively poor

According to an earlier report by Japan's "Sankei Shimbun", in June this year, in addition to Honda, Japan's three major automakers also experienced a decline in sales in the Chinese market, and Toyota experienced negative growth for three consecutive months. Expert analysts believe that in addition to fierce competition in China's new car market leading to intensified price competition, foreign manufacturers such as Japanese automakers have not yet been able to launch enough electric vehicle products in the Chinese market, which is also one of the reasons for the weak sales. Consumers in the Chinese market are increasingly favoring electric vehicles, so automakers need to pay more attention to the development and promotion of electric vehicle products

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