Honda, Nissan zeroing in on China sales targets

Honda Motor Co. and Nissan Motor Co. expect sales volumes in China this year to be in line with initial projections , while Toyota Motor Corp. and Mazda Motor Corp. have reduced their targets due to unexpectedly slow sales. 

Honda's 2008 sales goal for China was set at 17 per cent growth to 490,000 vehicles. Sales of its CR-V sport utility vehicle, made at joint venture Dongfeng Honda Automobile Co., are now seen rising 26 per cent to 160,200 vehicles this year, topping initial expectations for an 18 per cent increase and offsetting slower-than-expected growth in Accord sales.

Nissan, which projected 9 per cent growth to 500,000 vehicles, appears likely to meet expectations thanks to robust sales of new models of the Teana luxury sedan and the Tiida compact.

On the other hand, Toyota set its sights high at 40 per cent growth to 700,000 vehicles and has had to lower its guidance to 20 per cent growth to 600,000 vehicles. The automaker also plans to revise its medium-term outlook, which called for Chinese sales of 1 million vehicles annually by early 2010.

Similarly, Mazda was hoping for 80 per cent sales growth to 180,000 vehicles, but has lowered that to 30 per cent growth to 130,000 vehicles due to slower than anticipated sales of its Mazda 2 compact.