Cars

Honda Motor's July China sales up 12%

(Agencies)
Updated: 2010-08-06 10:30

Honda Motor Co increased sales in China by 12 percent in July to 56,688 vehicles from a year earlier, Chief Financial Officer Yoichi Hojo said.  

Honda aims to sell 630,000 vehicles in the world's biggest automobile market this year from 579,601 units in 2009, Chief Executive Officer Takanobu Ito said at the Beijing Motor Show on April 23. That forecast remains unchanged, Hojo said.

Related readings:  Honda's China sales fall 2.7% in June  Honda to recall 165 Civics, Streams in China  Honda bosses ask for time to resolve dispute  Big wheels get ready for the fast lane despite labor bumps

While Honda's China labor costs are rising, they still make up only about 2 percent of costs in China and are about a tenth of labor costs in developed countries, Hojo said.

Toyota Motor Corp's China vehicle sales in July gained 1 percent to 64,200 vehicles from a year earlier, spokesman Hitoshi Yokoyama said in Beijing. Toyota's vehicle sales in the first seven months of 2010 gained 23 percent to 426,600 units, he said.

The automaker aims to sell 800,000 units in China this year and the company is "likely to achieve the target with the current pace," Yokoyama said.