Japanese automakers rebound in China in June
Toyota Motor Corp. and Honda Motor Co. recorded sharp sales gains in China last month,outperforming the industry and gaining on that market's leaders, General Motors and Volkswagen.
Toyota and its two local joint-venture partners sold 100,600 cars in China last month, up nearly 42 percent year-on-year and its fastest sales growth since February 2014.
Honda delivered 73,381 units last month, up 26 percent year on year. Nissan grew at a slower pace, with sales up 0.1 percent last month to 93,600 units.
Toyota spokesman Takanori Yokoi said on Wednesday the rise was due in part to "technical" reasons, as the automaker's sales dipped in the same month last year while it phased out the older version of its Corolla compact in preparation for the newer model.
The gain, however, is a positive sign for the auto industry in China, which has suffered a major slowdown in sales this year as the economy grows at its slackest pace in 25 years.
Overall passenger and commercial vehicle sales for the industry fell 0.4 percent year-on-year in May to 1.9 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).
During the first six months of this year, Toyota has sold 512,800 cars, up 10 percent from the same period a year earlier. That puts it on track to meet its 2015 sales target for China, where it aims to sell 1.1 million vehicles.
Honda had a big rebound in the first six months, with sales up 30 percent to 460,901 units. And Nissan sales were up 5.7 percent to 587,900 units in the first half. The company says it still expects to meet its annual sales target of 1.3 million units.
Market leaders General Motors and Volkswagen have not yet announced June sales, but they've been struggling in recent months to maintain growth.
GM, VW and Ford Motor Co. have cut prices to maintain sales growth.
In March, the China Association of Automobile Manufacturers said overall sales of passenger and commercial vehicles may not match last year's growth rate of 6.9 percent.
Honda delivered 73,381 units last month, up 26 percent year on year. Nissan grew at a slower pace, with sales up 0.1 percent last month to 93,600 units.
Toyota spokesman Takanori Yokoi said on Wednesday the rise was due in part to "technical" reasons, as the automaker's sales dipped in the same month last year while it phased out the older version of its Corolla compact in preparation for the newer model.
The gain, however, is a positive sign for the auto industry in China, which has suffered a major slowdown in sales this year as the economy grows at its slackest pace in 25 years.
Overall passenger and commercial vehicle sales for the industry fell 0.4 percent year-on-year in May to 1.9 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).
During the first six months of this year, Toyota has sold 512,800 cars, up 10 percent from the same period a year earlier. That puts it on track to meet its 2015 sales target for China, where it aims to sell 1.1 million vehicles.
Honda had a big rebound in the first six months, with sales up 30 percent to 460,901 units. And Nissan sales were up 5.7 percent to 587,900 units in the first half. The company says it still expects to meet its annual sales target of 1.3 million units.
Market leaders General Motors and Volkswagen have not yet announced June sales, but they've been struggling in recent months to maintain growth.
GM, VW and Ford Motor Co. have cut prices to maintain sales growth.
In March, the China Association of Automobile Manufacturers said overall sales of passenger and commercial vehicles may not match last year's growth rate of 6.9 percent.
