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Honda's Apr China Sales Plunge 48% YoY; Toyota Down 25%
Honda's new vehicle sales in China in April plunged 48.3% YoY to 22,600 units, while Toyota's sales also fell sharply by 25.4% YoY to 106,500 units, mainly dragged down by rising g...
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Honda's Apr China Sales Plunge 48% YoY; Toyota Down 25%
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Honda's new vehicle sales in China in April plunged 48.3% YoY to 22,600 units, while Toyota's sales also fell sharply by 25.4% YoY to 106,500 units, mainly dragged down by rising gasoline prices caused by escalating tensions in the Middle East.

Honda's sales in China have declined YoY for the 27th consecutive month. Sales at its joint venture with Guangzhou Automobile Group (2238.HK), GAC Honda Automobile, recorded a particularly notable drop, plunging 63.7% in April.

Toyota has also reported sales declines for three consecutive months. In addition to the impact of higher gasoline prices, the approaching Beijing International Automotive Exhibition also weighed on sales. (mn/u)

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