Honda Motor sees China retail sales dip 6.1% YoY in Q1 2024

Shanghai (Gasgoo)- Honda Motor announced this week its retail sales in Chinese amounted to 206,907 vehicles for the first quarter of 2024, declining 6.1% over the previous year.

Although the Japanese automaker didn't unveil the monthly data in March, based on the figures given for the first two months, it can be learnt that Honda Motor retailed 60,449 vehicles in the world's largest auto market last month, representing a 26.3% decrease year-over-year. 

Breaking down the sales numbers by specific joint ventures, GAC Honda recorded a retail sales volume of 108,361 units for the first three months of this year, a year-on-year drop of 8.1%, while Dongfeng Honda's Jan.-Mar. sales shrank 3.8% from the previous year to 98,546 units.

In March 2024 alone, GAC Honda and Dongfeng Honda sold 30,118 and 30,331 vehicles, indicating a year-on-year drop of 28% and 24.6%, respectively.

As for fresh moves related to Honda Motor, on March 6, Dongfeng Honda officially launched its "Creating the Future 2030" strategy. With a steadfast commitment to the electric vehicle revolution, the company aims to continuously innovate in its brand and products, emphasizing a core value proposition of "Customer First, Quality Foremost."

At the brand level, Dongfeng Honda introduced the all-new new energy vehicle brand "Lingxi," consolidating its position in electrification transformation alongside its hybrid technology e:PHEV brand and the e:NS pure electric brand, thus reshaping its identity in the electric vehicle market.

On the product front, Dongfeng Honda has launched over 10 new models since 2023, including the all-new Inspire, the all-new CR-V, and the Honda HR-V, covering a diverse range of powertrains such as oil-fueled, hybrid electric, plug-in hybrid electric, and pure electric, across SUV, sedan, and MPV sectors.

As a vital part of Dongfeng Honda's advanced technology-enabled efficient production system, the new energy intelligent factory will commence operations this year. The highly anticipated e:NS2, Lingxi L, and H-brand SUVs will hit the market successively, marking the beginning of Dongfeng Honda's "Electric Era."