Guangzhou Honda margins squeezed, says Denway

Newswire

HONG KONG, May 30 (Reuters) - China's Denway Motors Ltd. said profit margins at its car making joint venture with Honda Motor Co. in Guangzhou would fall after price cuts, but reported market conditions had improved after a sluggish start to the year. Denway, which makes Honda Accords, Odyssey minivans and Fit sedans at its Guangzhou Honda operation, said it should meet its full-year target of selling 230,000 vehicles. "Market sentiment has improved, especially in April and May," Zeng ...

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