February sales in China: Four Japanese OEMs achieve double-digit increase [ China ]
In February 2017, Nissan, Toyota, Mazda, and Honda all enjoyed a double-digit sales increase in China. Despite lower tax reduction rates for small vehicles (with 1.6L or smaller engines) introduced in January 2017, the tax break program still contributes to boosting car sales.
On March 3, Nissan announced that it sold 74,830 vehicles in China in February, which was a 23.0% increase y/y. Growth was attributable to strong sales of the popular Sylphy compact sedans and Qashqai SUVs. The automaker’s year-to-date (YTD) sales that include January results were 194,241 vehicles, up 3.1% on a year-over-year (y/y) basis.
Toyota sold 81,900 vehicles, a y/y increase of 25.1% y/y due mainly to significant growth in sales of the Corolla and Levin, its major sedans. YTD sales were 183,600 vehicles, down 3.6% y/y. Its February-only sales were the highest among Japanese automakers.
Honda achieved its highest-ever sales for the month of February with sales of 81,125 units, up 41.4% y/y. Its sales were buoyed by favorable demand for models including the Accord, CRV, and Civic. YTD sales reached 194,169 units, up 17.9% y/y.
Mazda sold 15,783 units, growth of 22.3% y/y. YTD sales reached 40,804 units (up 5.0% y/y), the highest for the OEM’s January-February sales.
(Honda (China) press release from March 2, 2017)
(Mazda (China) press release from March 3, 2017)