Honda China Sales Drop 44.1% in July; F-TECH Cuts 500 Jobs in China

Honda China reported vehicle sales of 25,052 units in July, a 44.1% year-over-year decline. From January to July, its cumulative sales totaled 230,870 units, down 35.9% compared to the same period last year. On August 3, F-TECH, a supplier of automotive chassis components, announced it would cut 500 jobs—approximately half of its workforce—at its main production base in China. The company stated that declining sales by its major client, Honda, in the Chinese market have led to reduced factory utilization. Earlier data showed that Honda China’s retail sales in June stood at 32,474 units, a 44.5% year-over-year drop, with cumulative sales from January to June totaling 205,818 units, down 34.7% year-over-year.