Honda Motor posts 2-digit YoY drop in China retail sales in July

Shanghai (Gasgoo)- In July 2023, Honda Motor recorded a retail sales volume of 89,691 units in China, representing a 32.8% decline compared to the year-ago period, according to the company's official sales data.

For the first seven months of 2023, Honda Motor's cumulative retail sales in the world's largest auto market amounted to 619,382 units, shrinking 23.8% from the previous year.

Of the vehicles sold through the Jan.-Jul. period, 132,896 units were electrified products, which were composed of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs).

Looking back to the past seven months of this year, the automaker only scored a year-on-year growth in its China monthly sales in May, but posted a downward movement in the other six months.

All-new INSPIRE e:PHEV; photo credit: Dongfeng Honda

On July 3, Dongfeng Honda officially put the all-new INSPIRE onto the market. Coming with six trim levels, the model features a price range of 182,800 yuan to 258,800 yuan. As the sister model of the all-new ACCORD, the all-new INSPIRE will also provide a 1.5T gasoline version and an e:PHEV version, featuring upgrades such as Honda CONNECT 4.0 intelligent system, as well as Honda SENSING 360 safety sensing system.

In addition, on July 16, when Dongfeng Honda celebrated its 20th anniversary, the Sino-Japanese joint venture unveiled its new strategy codenamed "Creating the Future 2030." It is projected that by 2027, Dongfeng Honda will cease the production of fuel-powered vehicles and introduce over 10 BEV models by 2030.