Guangzhou Honda nearing '09 sales target

Shanghai, November 23 (Gasgoo.com) Guangzhou Honda (Guangqi Honda), a joint venture between Guangzhou Auto and Honda Motor, has sold more than 310,000 vehicles this year to date, reaching 95% of its sales target for 2009, Reuters reported today, citing the company's president.

The joint venture, located in southern Chinese city of Guangzhou, makes and sells cars of the Accord, Odyssey, Fit ands City brands. About 1 million Accord cars have been sold in China to date since the brand was introduced 10 years ago to Guangzhou Honda (which was set up in 1998), said the company's President Kanayama.

Last month, Guangzhou Honda sold 30,599 vehicles, up from 25,025 of a year earlier. The October sales included 15,265 Accord cars, 7,821 City cars, 4,532 Fit cars and 2,981 Odyssey cars.

Guangzhou Honda expected its car sales to exceed a target of 330,000 units for 2009 following a recovery in China's auto market. The venture sold 306,242 cars in 2008, up 3.7% from a year earlier.

Guangzhou Auto and Honda Motor may expand the capacity of their Chinese venture by a third next year to meet robust demand in the world's largest market. The venture's current two plants have a combined annual capacity of 360,000 units.