Small cars propel Honda sales; Toyota slumps
Small cars propel Honda sales; Toyota slumps
Honda
Motor Co.'s China deliveries jumped nearly 40 percent year on year in
October to 116,005 vehicles, easily outperforming rival Toyota Motor
Corp.
Toyota sales fell 4.1 percent to 99,200 vehicles last month.
In the first ten months, Honda sales have jumped 27 percent to 988,109
vehicles, while Toyota volume rose 11 percent to 989,300 units.
Honda's product portfolio -- with its generous mix of small cars and
crossovers -- has benefited greatly from China's tax cut on vehicles
with small engines.
The City, Fit and Civic small sedans -- and the Vezel compact crossover
-- each recorded sales growth of more than 45 percent from a year
earlier, Honda said.
Asia has edged out North America as Honda's largest market. In October,
the Nikkei business daily reported that Honda and joint-venture partner
Dongfeng Motor Group plan to build a new assembly plant in Wuhan.
The new plant, Honda's seventh in China, reportedly will open in 2019.
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