Honda: global losses offset in Chinese market

Japanese carmaker Honda Motor Co expects its China sales to grow by 10 percent this year partly to offset its slump in other major markets affected by global financial woes, according to a top executive from the company's China operation.

Atsuyoshi Hyogo, chairman and president of Honda's regional operations (China), said the company aims to sell 520,000 vehicles in China this year, up from 473,000 units in 2008.

"Market conditions in China and Brazil remain fairly good amid the world's financial crisis. We should speed up efforts there to achieve better results to make up for losses in North America, Japan and Europe," Hyogo told reporters.