AutoBeta(AutoBeta.net)05/08 Report--

Under the cover of the COVID-19 epidemic for several months, the Chinese automobile market has finally achieved a significant recovery under the gradual control of the epidemic. According to the latest data released by a number of car companies, there is a significant growth performance. However, Honda, which has performed particularly well in the past two years, still failed to achieve sales growth in April, and the market performance is still recovering.

According to the latest figures released by Honda China today, Honda's terminal sales in China totaled 113430 vehicles in April 2020, down 10 per cent from a year earlier. Of these, GAC Honda sold 58401 vehicles in April, down 11 per cent from a year earlier, while Dongfeng Honda sold 55029 vehicles in April, down 8 per cent from a year earlier.

It is not difficult to see that both Honda's joint ventures have shown a clear trend of stabilizing under the current epidemic and have returned to the 90% level of the same period last year, thanks to the popularity of their new and old hot models. However, Dongfeng Honda seems to have performed more prominently in April than Guangzhou Auto Honda, with year-on-year growth slightly higher than Guangzhou Auto Honda.

It is worth noting that in the past few months, since Dongfeng Honda has three vehicle manufacturing plants all located in Wuhan, Hubei Province, according to the local guidelines for epidemic prevention and control, the company was allowed to resume work on and after February 11. According to Dongfeng Honda production plan, until March, the company has not fully achieved the normal production of the previous period, so that sales also have a certain impact.

However, thanks to the continued hot sales of Dongfeng Honda's C-RV and Honda Civic models in the past two years, it has helped Dongfeng Honda achieve rapid sales growth, which has surpassed that of Guangzhou Auto Honda in the first four months. According to the data, Honda's terminal sales in China in the first four months totaled 335414 vehicles, down 27% from the same period last year. Guangzhou Auto Honda's terminal sales in the first four months were 174749, down 29% from the same period last year. Dongfeng Honda's terminal sales in the first four months were 160665, down 25% from a year earlier, and its growth performance was significantly better than that of Honda China and Guangzhou Automobile Honda.

Although Guangzhou Auto Honda's total sales volume is more due to Dongfeng Honda, it is able to stay in the Accord with more than 20,000 B-Class cars, as well as the gradual decline in the small car market and the sharp decline in flying models. GAC Honda's market performance is weakening, so that it is far inferior to Dongfeng Honda in 2019. However, with GAC Honda bringing the new compact SUV Haoying, from the current performance, there has been obvious climbing performance, has achieved more than 10,000 units in April, with the expansion of terminal offers, it may become a new pillar model of GAC Honda. At the same time, the launch of the new fly, which is expected to meet the country's sixth emissions in the second half of the year, may also help the company achieve some sales growth.

Only the attack on the epidemic since 2020 has kept China's auto market in the doldrums for nearly half a year, so that it will inevitably have a huge impact on the production and sales of Honda's joint venture plants in China. at the same time, it will also make it more difficult for Honda to achieve its full-year goals. According to Honda's sales target announced at the beginning of the year, Honda China will challenge its sales target of more than 1.55 million vehicles in 2019 in 2020, but now it is only 22% complete, so the year-end target may be difficult to achieve.

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