Honda’s sales target in China has shrunk with the decline in sales of its main models, which has dragged Honda’s global sales expectations to some extent. Honda released its third-quarter earnings on October 28 and announced that it will cut its net profit forecast for fiscal year 2014 (as of March 2015) to 565 billion yen (about 30.2 billion yuan), a reduction of about 6%. At the same time, Honda also lowered the group's overall new car sales target from 4.83 million to 4.62 million, down by 5%. Honda pointed out that the reasons for the downgrade, in addition to the multiple recalls of the main models such as Fit, led to the loss of customers, as well as the slowdown in sales in the Chinese market. Last year, the Chinese market surpassed Japan and became Honda's second largest market in the world, accounting for nearly 20% of Honda's global sales. However, in the first three quarters of this year, Honda’s two joint ventures in China did not perform as well. In this context, Honda has reduced its sales plan for the Chinese market from more than 900,000 units to more than 800,000 units, and hopes to strengthen the development of Yangge in the Chinese market to improve profitability. Honda is overtaken by PSA in China / Honda's official data shows that Honda's sales in China reached 764,000 in 2013, accounting for 17.9% of its global sales. In this context, Honda once again emphasized the importance of the Chinese market. Honda Tetsuya Industrial Co., Ltd. President Hideo Ito told reporters that in the future, in terms of resource introduction, "the demand of the Chinese market should be given priority." In the next two years, Honda will strive to double sales in the Chinese market while increasing market share. According to the plan, Honda will challenge the sales target of 900,000 vehicles in China this year, an increase of 18% over the previous year. However, contrary to expectations, official data shows that Honda’s cumulative sales in China from January to September this year was 502,000 units, a slight increase of 1.03% year-on-year. In the peak season of “Golden September and Silver 10†in September, Honda’s sales in China fell sharply by 23.1% year-on-year. In October, Honda’s sales in China were 70,800 units, down 5.8% year-on-year, and continued to decline for 4 months. Honda’s two major joint ventures in China are in a state of sluggish growth. Among them, Guangqi Honda's sales in January-September fell by 0.3% year-on-year. Although Dongfeng Honda's sales increased by 3% in the first three quarters, it has seen a continuous decline in sales since July. "From the current market situation, non-market factors can be ruled out. For example, among the three major Japanese brands, Toyota Motor has maintained good growth this year." Cui Dongshu, deputy secretary general of the National Passenger Car Market Association, said to the "Daily Economy." News reporters said. According to official data, in the first three quarters of this year, Toyota sold a total of 711,000 vehicles in China, an increase of 11.5%. Although Nissan’s sales in China were basically the same as in the same period last year, the cumulative sales volume of the main joint venture Dongfeng Nissan in the first three quarters increased by 8.1%. In this context, Honda not only failed to surpass Japanese competitors such as Nissan and Toyota, but was overtaken by PSA Peugeot Citro龙n Group (PSA). According to official data, in the first three quarters of this year, Honda sold a total of 502,000 vehicles in China, and the PSA accumulated sales of 542,500 vehicles in the same period. Sales of main models fell / "No matter which market segment this year, the degree of competition is more intense, we don't have any new cars, and the pressure on the terminal is still relatively large." A Dongfeng Honda dealer in East China told reporters that the current beam-column product CR-V The terminal discount has reached 14,000 ~ 15,000 yuan, falling below the dealer's breakeven point of 12,000 yuan. At the same time, another main product Civic terminal discount also exceeded 10,000 yuan, belonging to Pingjin Ping. As an important contributor to the sales and profits of Guangqi Honda, the sales volume of the Accord in the first three quarters of this year has declined year-on-year. Although the sales volume has stabilized and rebounded, it will take time to reach its target. In the face of the decline of its main models, Honda’s China Minister and General Manager of Honda Technology Industrial (China) Investment Co., Ltd., Cang Shicheng, told the outside world that the main reason was that the manufacturers adjusted the inventory of each special store in the middle of the year. . Some insiders believe that this represents the result of market competition. Whether it's the CR-V or the Accord, the market segments in which it is located are flooding with more and more competitors. In the past two years, in addition to Peugeot 3008, Ford Maverick, Nissan's new generation Qijun, Buick Angkewei and other products in the SUV market, Hyundai ix25, Buick Angola, Ford Wing and other small SUVs have gradually become another auto market. An important growth point. In the mid-to-high-end car market, in addition to the North-South Volkswagen and the traditional Japanese Three Musketeers (Camry, Tianzhu, Accord) and other models, the new Mondeo, modern maps and other products are also regarded as a strong competitor in this market segment. "Honda's promotion speed in China is not too fast, and it has missed the growth dividend of the market segment to a certain extent." Cui Dongshu said, for example, in Beijing's modern SUV camp, ix25, Tucson, Xinshengda have been formed. The high-low combination of the four models of the ix35 has attacked different market segments, and Honda, which has been involved in the SUV market earlier, has only been supported by a CR-V model (Guangzhou Honda Binzhi was listed on October 25). According to the data of the Association, in the first three quarters of this year, the cumulative sales volume of the Beijing Hyundai SUV camp reached 175,000, surpassing the Dongfeng Honda's 121,000 vehicles, which directly dominated Shanghai Volkswagen, the first joint venture car company. Acura brand strengthens "independence" / According to statistics from the Tokyo Advanced Research Institute, Honda’s profit margin in China has been close to 15% to 20%, but since 2012, this figure has fallen to single digits. In this context, Honda's expectations for its high-end brand Acura are even more intense. On November 7th, Acura will release a brand new slogan, and strive to better suit the preferences of Chinese consumers in various dimensions such as product development and marketing. This move was interpreted by the industry as a further advancement of the Acura China strategy. In July last year, Honda announced the news of domestic production of Acura in China. In the same year, Yangge introduced four new models of ILX2.0 Elite, RLX3.0L, RDX3.0L and the new MDX to China. However, from the perspective of sales, the development of Acura in China is still not satisfactory. According to official data, Acura sold 2,283 vehicles in China in the first half of this year, a year-on-year increase of 78.2%. However, during the same period, sales of Lexus and Infiniti in China reached 39,300 units and 14,000 units respectively, and the sales of Acura were even less than the fraction of competitors. "At present, the biggest problem facing Yingge in China's development is the lack of brand influence, especially the lack of brand promotion, and the recognition is relatively low. Many customers don't know much about Yangge." For the shortcomings of Yangge, Cangshi Cheng is very clear. Some analysts believe that because Yangge lacks centralized marketing methods, it is difficult to reflect the distinctive brand characteristics in brand communication. For a long time, Yangge is only regarded as a high-end brand under Honda. In order to highlight its brand influence, Acura began to emphasize the independent brand image. According to a person close to Yangko, "At present, in terms of sales, marketing, product planning, etc., Yangge and Honda maintain relative independence." In addition, Honda also made it clear that it will give priority to the introduction of its most advanced technology in the Chinese market, and the ode to Honda's highest brand image will also become the first carrier of these technologies. It is understood that by 2015, Acura will fully update the powertrain of all its models. Among them, Acura's sports luxury car TLX will be launched at the Guangzhou Auto Show this year. The car will be equipped with 2.4-liter direct injection engine from Honda's latest powertrain technology. After its launch, it will become the smaller displacement model line of Acura. 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