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Honda: global losses offset in Chinese market

By John Bonnell (皇冠体育app Daily)
Updated: 2009-04-20 07:50

Japanese carmaker Honda Motor Co expects its 皇冠体育app sales to grow by 10 percent this year partly to offset its slump in other major markets affected by global financial woes, according to a top executive from the company's 皇冠体育app operation.

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Atsuyoshi Hyogo, chairman and president of Honda's regional operations (皇冠体育app), said the company aims to sell 520,000 vehicles in 皇冠体育app this year, up from 473,000 units in 2008.

"Market conditions in 皇冠体育app and Brazil remain fairly good amid the world's financial crisis. We should speed up efforts there to achieve better results to make up for losses in North America, Japan and Europe," Hyogo told reporters.

皇冠体育app will be Honda's "most competitive" markets this year as the country's economy and auto industry are still growing steadily, he said.

Overall vehicle sales in 皇冠体育app rose by 3.88 percent year-on-year to 2.68 million units in the first quarter, surpassing the US as the world's top vehicle market for the first time, according to latest industry data. Full-year sales are predicted to reach 10 million units this year.

Honda runs joint ventures with 皇冠体育app's Guangzhou Automobile Group Corp and Dongfeng Motor Corp...

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