Honda/Denway JV sees 2007 car sales to rise 19%

HONG KONG -- The Chinese car-making joint venture between Japan's Honda Motor Co. and Denway Motors Ltd. said today that it planned to make and sell 310,000 cars in 2007, up 19 percent from this year.

Guangzhou Honda achieved production and sales target of 260,000 cars in 2006, up 13 percent from a year earlier, and revenues would rise about 11 percent to 40 billion yuan ($5.12 billion) this year, it said in a statement posted in its Web Site guangzhouhonda.com.cn.

Sales of passenger cars in China are expected to maintain relatively high growth next year, the car maker said, adding it will launch new products in 2007.

Guangzhou Honda is 50 percent held by Honda and 50 percent by Denway.

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