Honda Motor Co (7267.T) will double the number of car models it sells in China over the next two years to try to capture market share from rivals such as General Motors Co (GM.N), Japan’s Nikkei newspaper reported on Saturday.
Honda will expand its product range to about 20 models by sharing platforms and other major parts between its two joint ventures in China, the Nikkei said without citing the source of its information.
Honda also plans to source more Chinese parts to keep costs low, the Nikkei said.
Spokesmen for Honda were not available for comment.
In comparison, General Motors sells 40 models in China, and in 2013 it sold more than four times the number of cars that Honda sold, according to the Nikkei.
China has the world’s biggest auto market and this year is expected to mark the second year of double-digit growth due to economic stimulus and demand in China’s interior regions.
REUTERS
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