Guangqi Honda sees China auto growth slowing in 2010
China's Guangqi Honda Automobile has achieved 95 percent of its sales target for this year, with 310,000 vehicles sold in the year to date, the company's president said on Monday.
The company, which sells four models of cars in China, including the Accord and Odyssey, is a joint venture between Honda Motor and Guangzhou Automobile, whose shares are held by Hong Kong-listed Denway Motors .
Guangqi Honda President Kanayama Hironori added that 1 million Accords had been sold in China to date.
Guangqi Honda executive vice-president Yao Yiming said the company's sales were expected to rise 18 pct this year, much higher than its earlier estimate of 10 percent.
"I forecast the car market (in China) will continue to rise next year, but will not repeat this year's explosive growth," he said.
He declined to give a concrete sales forecast for next year but said the company's capacity could easily handle 10 percent growth. Guangqi Honda has two plant with a combined capacity of 360,000 units per year, with plans to expand to a total 480,000 units next year.
