Honda aiming for higher than 10% growth in 2011

Dongfeng Automobile Company | Ash | December 17, 2010 at 9:02 pm

From Bloomberg:

Honda Motor Co (7267.T) said on Friday it would target sales in China of 730,000 units in 2011, for growth of more than 10 percent from the 650,000 estimated for this year.

“We expect the overall (Chinese) market to grow by an average 10 percent,” Seiji Kuraishi, head of Honda’s China operations, told reporters in Tokyo. “We will aim for a growth of more than 10 percent, of around 730,000 units.”

Honda operates 50-50 joint ventures with Guangzhou Automobile Group Co (2238.HK) and Dongfeng Motor Group (0489.HK), as well as a majority-owned factory building the Fit/Jazz subcompact model for exports to Europe.

Honda’s production capacity in China is set to rise to 890,000 cars a year in 2013.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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