Honda Motor Company is fractionally lower although Reuters said the auto maker’s sales in China surpassed those of Toyota Motor (TM) in the first 11 months of 2016.
To meet rising demand, Honda plans to break ground on Dec. 8 on a factory in central China’s Wuhan, according to a media invitation Honda sent out seen by Reuters.
Honda sold roughly 14,500 cars more than Toyota for January to November to surpass it for the first time this year, according to sales reports released by the two firms on Friday, Reuters said.
Honda has recorded nine consecutive months of double-digit sales growth in China and is nearing its sales target of 1.18 million vehicles, which it revised upward by roughly 100,000 units in October, the story said.
Toyota fell about 50,000 vehicles short of reaching its 1.15 million vehicle sales target as of November, the story said.