Number of Honda models in China to double

Number of Honda models in China to double

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The competition among auto giants in China is increasing on a daily basis. With this in mind, the famous car maker Honda Motors said that it will double the number of car models it is currently selling in the country in the upcoming two years. The move will be made by the company in order to capture market share from some of its rivals, including General Motors.

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The company will be expanding its product range to approximately 20 models by sharing platforms, as well as other important parts between the two joint ventures in the Asian country. Media reports claim that the company is planning to source an increased number of Chinese parts in order to keep expenses low. However, a spokesperson from Honda was not immediately available for comment.

When compared to General Motors, Honda sells about 40 models in the country and in 2013, it managed to sell more than four times the number of vehicles sold by Honda. The country of China is the largest car market in the world and in 2014, it is expected to achieve the second year of double-digit growth because of economic stimulus, as well as demand in the interior regions in China.

The country recently experienced a slow market when it comes to auto sales. As the economy slowly recovers, more companies are trying to come forward with their respective offerings for consumers.

Photo Credits: SCMP