TOKYO -- Honda Motor Co.expects price competition in China to ease, a company executive said on Friday.
Atsuyoshi Hyogo, chief operating officer for Honda's China operations, said stock adjustments were going ahead, and some automakers had already begun to raise product prices.
Honda forecasts sales of 270,000 vehicles in China this year. Honda in April projected a drop in net profit this year citing stiff price competition in China. On Thursday, it lifted its profit forecast to a slight rise, but said smaller earnings in China hurt in the first half of the year.