A few days ago, Honda Brand announced its latest sales results in China in March. Its terminal car sales reached 101061 units, down 33.2% year-on-year. In the first quarter of 2022, the cumulative sales of Honda brand terminals in China 353786 vehicles, down 9.3% year-on-year.
By brand, Guangqi Honda's terminal sales in March were 53,700 vehicles, and Dongfeng Honda's terminal sales in March were 47,361 vehicles. Overall sales declined year-on-year, mainly due to the shortage of parts and components caused by the repeated epidemics.
By model, Honda's model equipped with the SPORT HYBRID high-efficiency dual-motor hybrid system sold 54,034 units in the first quarter. The specific sales results of the remaining models have not yet been announced, but from the previous sales data legs are short, Guangqi Honda Accord, Fit, Binzhi, Dongfeng Honda CR-V, Civic and other models, are the main players of the sales data.
With the rapid development of new energy vehicles, the Honda brand is also accelerating the speed of electrification transformation and upgrading, Guangqi Honda has just launched a new electric brand e: NP and its first new car e: NP1 Polar Pan 1, Dongfeng Honda's e: NS1 is also about to debut. However, compared with domestic independent brands, the electrification process of Honda brands is still slightly lagging behind. According to the plan, Honda aims to increase sales of new energy vehicles in the Chinese market to 800,000 units by 2030, compared with 10,000 units in 2021.
Newly appointed Honda CEO Toshihiro Mibe has previously said that if joining the alliance can help Honda achieve its profitability goals, Honda is willing to form an electrification global alliance with other automakers. Recently, Honda announced an expanded partnership with GM to adopt new battery technology and produce affordable electric vehicles with a new architecture, and such an alliance combination, coupled with honda's own electrification strategy, may be able to accelerate its electrification transformation process.