Honda Motor Co., Ltd.’s HMC reported worldwide production volume for Apr 2015 at 379,053 units, down 1.4% from Apr 2014. Production outside Japan was up 7% at 327,109 units, reflecting growth for the second consecutive month. This also represents an all-time high production level for the month of April. Meanwhile, production in Japan plunged 34.1% to 51,944 units in the month, marking the ninth continuous month of decline.
The improvement in production outside Japan resulted from a 5.3% increase in production in North America to 162,641 units, a 9.4% rise in Asia to 138,623 units and a 16.9% improvement in other regions to 14,465 units. Production in China increased 1.4% to 79,762 units and in the U.S., the same was up marginally by 0.7% to 113,357 units. However, these positives were partially offset by a 6.1% fall in production in Europe to 11,380 units.
Sales in the Japanese market declined 23.1% year over year to 41,667 units in April, marking the seventh continuous month of decline. New vehicle registrations plunged 29.3% to 22,155 units. Mini vehicles’ sales fell 14.6% to 19,512 units.
The Honda Fit, which recorded sales of 8,372 units, was the third best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Apr 2015. In the Mini vehicles category (under 660cc), N-BOX was the best-selling vehicle, with sales of 10,218 units. N-WGN was the ninth best-selling vehicle in the industry, recording sales of 4,204 units.
Exports from Japan decreased 52.1% year over year to 1,376 units in April. This is the second consecutive month of decrease.
Currently, Honda carries a Zacks Rank #4 (Sell). Better-ranked automobile stocks include Daimler AG DDAIF, Valeo SA VLEEY and Wabash National Corp. WNC. All these stocks sport a Zacks Rank #1 (Strong Buy).
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