Honda's Sales in China in 2024 Decline and Transformation

Honda in China announced on June 5 that the accumulative sales volume of its terminal cars in China in May 2024 was 66,202 units. The accumulative sales volume of Honda's terminal cars in China from January to May was 346,940 units, a year-on-year decrease of 16.7%.

Since reaching its peak sales volume in China of 1.627 million units in 2020, Honda's sales in China have started to decline and have not stopped declining for the following three consecutive years. In March this year, Honda's new car sales in China dropped significantly by 26.3%, setting the largest year-on-year decrease record since July 2023. According to Japanese media reports, Honda has planned to reduce its car production capacity in China by 20%.

Honda in China has recently announced a longer-term new energy transformation plan. After 2027, Honda will no longer launch new fuel models in China; it is expected that by 2035, all models sold by Honda in China will be fully electrified, and this fully electrified goal is five years earlier than the time Honda expects to achieve globally.

TapTechNews has summarized the delivery data for May 2024 as follows: