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Civic developing rapidly amid financial crisis

By Zhou Lihua and Jiang Qi (China Daily)
Updated: 2009-05-19 15:03

Though the financial crisis has negatively affected the world automobile industry, the Chinese auto market is showing a bright side. Honda is doing big business with its Civic model, which will reach a 200,000 capacity in May, Liu Yuhe, vice CEO of Civic, announced on May 16 in Wuhan, capital of central China’s Hubei province.

Civic has persistently pursued the balance between production and sales, resulting in expanded sales volume in the automobile market.

“Indeed, the automobile industry in China has done well in both production and sales in the first quarter this year, but the gross income and four index points declined, and carmakers’ average profit has been reduced 59%,” Liu said.

Civic’s strong performance has won it the highest sales volume in April. Another Honda model, the CR-V, sold 8,508 cars in April, an increase of 14.7% year-on-year and setting a new record in monthly sales volume.

The popular Honda brand’s development is in full swing, with Civic capacity jumping from 30,000 to 150,000,

In just five years, Civic became the stuff of legend in the Chinese automobile industry with a sales volume of 300,000—three times above the average rate. And in 2008, Civic became the only company to turn-up its annual volume twice.

Civic now ranks as the top developing car brand among Honda Motor companies in over 16 countries and regions worldwide.

China Daily Hubei Bureau

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