Dongfeng Honda's new energy sales have dropped for three consecutive years, and market competition pressure is gradually emerging

According to data released by Dongfeng Honda, the cumulative terminal sales in 2023 exceeded 610,000 vehicles, and the number of exported vehicles also reached 18,695 vehicles. However, this data shows a downward trend compared with the past three consecutive years.

Public data shows that Dongfeng Honda began to experience a decline in sales after its sales reached a peak of 800,000 vehicles in 2020. Specific data shows that sales dropped slightly to more than 790,000 vehicles in 2021, to 652,000 vehicles in 2022, and further fell to 610,000 vehicles in 2023. This market behavior is worrying.

In terms of model sales, Dongfeng Honda's CR-V and Civic models performed well, with cumulative annual sales of 213,515 units and 177,721 units respectively, accounting for 64% of Dongfeng Honda's total sales. However, this also exposed Dongfeng Honda's over-reliance on these two models. In the domestic market, when these two fuel-burning models faced competition from new energy vehicles, they failed to show obvious advantages in terms of product strength, configuration, or price, and the decline in sales may be reasonable. This reminds Dongfeng Honda that it needs to strengthen the research and development and promotion of new energy models to adapt to market changes and needs. Only through continuous innovation and improvement of competitiveness can the company's long-term sustainable development be ensured.

According to the editor’s understanding, except for the CR-V and Civic, the sales performance of Dongfeng Honda’s other models is relatively flat. Among them, the annual sales volume of XR-V was 55,995 units, the sales volume of HR-V was 32,963 units, the sales volume of the new Yingshi Pai was 56,981 units, and the sales volume of Alison was 30,197 units. These data further prove that Dongfeng Honda has problems in model layout and market strategy. It can be seen that Dongfeng Honda's performance in the SUV market is relatively good, but the sales performance of other models is relatively mediocre. This may be due to a lack of consumer interest in Dongfeng Honda's other models, or because competitors of other models are more attractive in the market. Dongfeng Honda needs to re-examine its model layout and market strategy in the future to improve the sales performance of other models to remain competitive.

According to the overall sales data released by Honda China, the sales of Japanese cars in the Chinese market are showing a downward trend. In 2023, Honda's cumulative sales in the Chinese market will be 1,234,181 vehicles, a year-on-year decrease of more than 10%. This data undoubtedly raises a warning to Japanese car companies such as Dongfeng Honda. The important issue they need to face is how to break out in the fiercely competitive market.

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