Honda Motor’s China retail sales dip 16.7% YoY in Jan.-May period

Shanghai (Gasgoo)- On June 5th, Honda Motor announced that its retail sales in China for May 2024 totaled 66,202 vehicles, a year-on-year decrease of 34.66% and a month-on-month decline of 10.33%.

From January to May of the year, the Japanese automaker's cumulative sales reached 346,940 vehicles in the world’s largest auto market, down 16.7% from the previous year.

Honda Motor did not disclose individual sales figures for its joint ventures, GAC Honda and Dongfeng Honda, this month.

To boost sales in China, Honda Motor plans to accelerate its electrification efforts in the country. Shinji Aoyama, Global Executive Vice President of Honda, stated that this fiscal year, Honda will launch several competitive electric vehicle models in the Chinese market and work with its joint venture partners to address overcapacity issues.

On April 16th, Honda officially launched the 烨 (yè) Series (“Ye Series”) electric vehicle range dedicated to the Chinese market, including the world premiere of the first set of the Ye Series models, namely the 烨 (yè) P7 (“Ye P7”) and the 烨 (yè) S7 (“Ye S7”), as well as the concept model for the second set of series models, the 烨 (yè) GT CONCEPT (“Ye GT CONCEPT”). The Ye S7 and Ye P7 are the Series' first set of models, while the Ye GT CONCEPT is the second. The first two models are expected to hit the market by the end of 2024.

The Ye Series is the first in the world to use a new "H" logo for the next generation of pure electric vehicles, featuring the new intelligent and efficient Architecture W. Honda Motor plans to launch six new models under the Ye Series by 2027.

Additionally, Honda Motor has announced that it will introduce ten electric vehicle (EV) models in the Chinese market by 2027, with 100% of its auto sales contributed by EVs by 2035.