Honda cuts China sales target in tough competition

Newswire

TOKYO, Jan 31 (Reuters) - Honda Motor Co. said on Wednesday it expected to sell about 20,000 fewer cars in China in the current business year than it had forecast three months ago. "The competition in the Chinese market has been much more severe than we had imagined," Executive Vice President Satoshi Aoki told a news conference. Honda lowered its global car sales target for the business year ending on March 31 to 3.665 million units from 3.7 million, with China accounting for about ...

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