Honda faces difficulties in the Chinese market and announces the closure of two factories

Honda Motor's development in the Chinese market has not been smooth. It recently announced that it will start closing two factories in Guangzhou and Wuhan in October. The adjustment aims to reduce the annual production capacity of gasoline vehicles in China from 1.49 million to 1.2 million, and plans to build two new new energy factories. A Honda spokesman said that this is to cope with the changes in the Chinese market. Faced with the impact of Chinese brands, Honda is facing huge competitive pressure.