Honda's April Sales in China Fell 48% YoY, with Both Joint Ventures Declining
[Honda's April Sales in China Fell 48% YoY] Amid intensifying competition from Chinese domestic automakers and rising fuel prices dampening consumers' car purchase willingness, Honda's auto sales in China saw a sharp decline in April. Honda announced that its April new car sales in China were 22,595 units, down 48% YoY, with flagship car models such as the Accord seeing stagnant sales. GAC Honda, a joint venture between Honda and GAC Group, saw April sales plunge 64% YoY to 8,384 units; Dongfeng Honda, a joint venture with Dongfeng Group, saw sales decline 31% YoY to 14,211 units.