Dongfeng Honda hikes sales target for 2008

Dongfeng Honda Automobile Co Ltd, a 50:50 joint venture between China's Dongfeng Motor Corp and Japan's Honda Motor Co, has hiked its sales target for 2008 to 160,000 units from the original 150,000, the Shanghai Securities Journal reported.

Liu Hong, the deputy general manager of Dongfeng Honda, was cited as saying that the company is expected to sell 160,200 vehicles for the whole year of 2008.

The company added more than 50 distributors across the country last year, 55% of which are in the first tier cities. The second and third-tier cities will be the company's major target markets in future.

Dongfeng Honda's capacity will expand to 200,000 this year, with a sales target of 180,000. Its self-developed model is scheduled to be launched in 2010, said the report.

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