Honda Motor’s China retail vehicle sales shrink 38.6% YoY in Feb. 2024

Shanghai (Gasgoo)- In the second month of 2024, Honda Motor saw its retail vehicle sales in China reach 45,498 units, which dipped 38.6% from the previous year mainly due to the effect of the Chinese New Year holiday, according to the company's latest vehicle sales results.

Compared to the previous month, the monthly sales the Japanese automaker achieved in the world's largest auto market in Feb. plunged 54.9%.

All-New BREEZE e:HEV; photo credit: GAC Honda

Breaking down the Feb. sales by specific joint ventures, GAC Honda recorded a sales volume of 24,162 vehicles, which dropped 32.6% year on year, while Dongfeng Honda saw its sales tumble 44.3% from a year earlier to 21,336 units.

For the first two months of this year, Honda Motor sold a total of 146,458 vehicles across China, representing a 5.9% growth over the year-ago period despite the downturn in Feb. sales.

To be specific, GAC Honda's Jan.-Feb. sales edged up 2.8% from a year ago to 78,243 units, while Dongfeng Honda scored a 9.6% year-on-year increase in its year-to-date sales, which stood at 68,215 units.

In the year of 2023, Honda Motor retailed 1,234,181 vehicles in China, reflecting a 10.1% year-on-year drop. GAC Honda sold 620,469 vehicles by retail last year, representing a 13.9% year-on-year decrease, while Dongfeng Honda saw its annual retail sales dip 5.9% from a year earlier to 613,712 units.