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Honda Motor’s Sales Results in China in YTD August 2023

Honda Motor s passenger vehicle sales in Chi na from January to August 2023 decreased by 24.6% from the same period last year to 708,000 units, and its market share dropped by 2.0 per cent age points to 5.3%. The main reasons behind sagging sales are weakening SUV sales and Honda s poor presence in China ’s booming BEV market.

Regarding BEVs, the e:NP1 and e:NS1 were launched in spring 2022 for the C SUV market. Tesla Model Y is the top seller in this market, ahead of gasoline powered cars . BYD also has a strong presence in this segment making it a fierce battleground for BEVs. Honda was having a tough time in the first eight months of 2023 , selling only 3,642 units of the e:NP1 and 3,128 units of the e:NS 1 Honda aims to increase the BEV sales ratio in China to 100% by 2035 , but it has yet to launch a competitive BEV model.

Graph: Honda Motor: Sales Volume of Passenger Vehicles and Market Share (2018 2022, YTD Aug. 2022 / 2023)Graph: Honda Motor: Sales Composition of Passenger Vehicles (YTD Aug. 2023)
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