11.4Honda to add 500 dealers in China over five years

Honda to add 500 dealers in China over five years

http://autonews.gasgoo.com/auto-news/1012814/Honda-to-add-500-dealers-in-Chi
na-over-five-years.html

Shanghai, November 4 (Gasgoo.com) Honda Motor plans to add about 500 car
dealerships in China in the coming five years to meet market demand,
Bloomberg reported today, citing a company executive. The No. 2 Japanese
carmaker will have 760 dealerships in China by the end of 2009, with 80
added this year.

 

"Our customer base in China's interior is growing, so we have to increase
dealerships in those areas in addition to the coasts," Honda Motor's CFO
Yoichi Hojo said at the company's headquarters in Tokyo today. Honda is
expanding its sales network in China as demand rises for Accord sedans and
City compacts, he added. 

 

Honda Motor is producing at full capacity in China and will likely have to
increase its manufacturing ability, Hojo added. Its Chinese venture Dongfeng
Honda is preparing for building its second plant in central China's Wuhan
city by March next year. 

 

The carmaker expects China sales to increase 16% to 550,000 vehicles this
year ending in December. Sales in China for the fiscal year ending in March
will exceed an original forecast by 50,000 units, Hojo said. 

 

Honda has tripled its full-year profit forecast as government stimulus
measures boosted vehicle sales in China and Japan, and raised its sales
forecast for the Asia region excluding Japan to 910,000 vehicles.

 

 

 

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