What is worrying is that in April 2024, Guangqi Honda's monthly sales have declined again. According to the official data of GAC Group, in April 2024, GAC Honda's monthly sales were 24,673 units. Compared to the same period last year, its sales fell by 2.93%.
Honda
Sales fell in April, and Guangqi Honda's sales fell year-on-year for the fourth consecutive month
In all fairness, this sales decline is relatively low. Moreover, according to the data released by the Passenger Car Association, in April 2024, the retail sales of domestic passenger cars also showed a year-on-year decline.
In contrast, Guangqi Honda's sales decline was even lower. From this point of view, it is understandable that in April 2024, Guangqi Honda's sales will decline year-on-year.
The reason why its sales are worried is that after entering 2024, as of April this year, Guangqi Honda's monthly sales have declined for four consecutive months.
Guangqi Honda's April production and sales report
According to the data of the passenger association, in January 2024, Guangqi Honda's monthly sales were 35,282 units. Compared to the same period last year, sales were down 7.5 percent.
In February 2024, Guangqi Honda's monthly sales were 29,107 units. Compared with the same period last year, sales fell by 29.39%, almost a three-tenth decline.
In March 2024, Guangqi Honda sold 52,587 units in a single month. Compared with the same period last year, Guangqi Honda's sales fell by 24.99%.
This means that after entering 2024, as of April this year, Guangqi Honda's sales have been showing a trend of "continuous decline".
Crown Road
For any car company, if sales show a year-on-year decline for several months, it is a noteworthy signal.
After all, to a certain extent, this shows that car companies or brands have been under greater market pressure during this period of time.
Yahan PHEV
Starting in 2021, Guangqi Honda's sales have declined for three consecutive years
Therefore, for Guangqi Honda, this is also a worrying signal. What's more noteworthy is that from the perspective of annual sales, as of last year, Guangqi Honda's sales have shown a downward trend for three consecutive years.
According to the official data of GAC Group, from January to December 2021, the cumulative sales of GAC Honda were 780226 it. Compared to the same period last year, sales volume decreased by 3.17%.
From January to December 2022, Guangqi Honda's cumulative sales volume was 741808 units. Compared with the same period last year, Guangqi Honda's sales fell by 4.93%, and the decline was further widened.
Crown Road
From January to December 2023, Guangqi Honda's cumulative sales were 640466 units. Compared with the same period last year, Guangqi Honda's sales fell by 13.66%.
Obviously, Guangqi Honda's annual sales scale in 2023 has fallen below 650,000 units. In addition, the decline in sales has risen to more than 10%.
In fact, from 2021 to 2023, Guangqi Honda's sales decline has shown a trend of widening for three consecutive years.
Yahan PHEV
This means that, from the perspective of the market, in the past three years, Guangqi Honda has been under certain market pressure.
After entering 2024, judging from the sales volume from January to April, the market pressure on Guangqi Honda does not seem to have eased. After all, from January to April, Guangqi Honda's sales fell by 19.1%.
It should be said that Guangqi Honda's sales continued to decline, in addition to the impact of market competition pressures, there are also many other factors.
Shadow
The market is more competitive, and it may be time for Guangqi Honda to come to the rescue
As we all know, in recent years, the domestic market has been extremely competitive. In order to gain a greater competitive advantage, major car companies often do their best to continuously launch more competitive products.
In terms of marketing initiatives, major car companies have also launched attractive car purchase measures. This has caused the price war in the domestic auto market to rise and fall.
As after 2024, the fierce competition in the domestic auto market can be said to be "increasing unabated". On the one hand, new energy vehicle companies have played the slogan of "electricity is lower than oil".
After entering 2024, after the launch of many facelifted models, not only the product power has been greatly strengthened, but the price is also lower, and the overall cost performance is higher.
Crown Road
On the other hand, the competition in the traditional fuel vehicle market is also more fierce. In order to cope with the competition, these models often have greater advantages in terms of terminals.
It can be said that in the fuel vehicle market today, with the advantages brought by years of deep cultivation, Guangqi Honda still has outstanding performance.
However, in the electric vehicle market, Guangqi Honda's performance is obviously much inferior. Looking at the electric vehicles launched in the domestic auto market, most of the current sales performance is not ideal.
In my opinion, Guangqi Honda should seek a breakthrough in the electric vehicle market while constantly consolidating its advantages in the fuel vehicle market, so as to obtain better development prospects in the domestic auto market. This is what we look forward to and are happy to see.
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