Top Five Carmakers in China – Honda Closes in on Top Three

Last year, Honda sold 350,000 cars in China, up 37% from the year before.

The company hopes to sell 450,000 this year.

GM and Hyundai each sold 400-450,000 units.

VW makes the most – 700,000 units.

Honda is fourth and Toyota is fifth, for now.

Honda Motor Co. in Guangzhou, China plans to Y30 billion to increase output of engines by 40% in 2009 and with that increased output, Honda hopes to close in on Germany's VW AG in manufacturing.

Honda has a 50-50 joint venture with Chinese automaker Guangzhou Automobile

Group Co. and another joint venture with Dongfeng Motor Corp that makes about 500,000 engines annually in China.

The Guangdong firm will produce eco-friendly and fuel-efficient 1.3- and 2.4-liter engines, the kind that go in Accord, Odyssey and Fit.

Toyota is also building an automobile plant in Guangzhou that will increase the carmaker's production capacity to 900,000 vehicles.

last year, China sold 7.15 million cars last.

The market is growing by about 10% per year.

Do you think Japanese carmakers will catch GM, Korea and Germany?

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Honda Plant in China Plans Big Boost in Output