Honda Motor Co., Ltd.’s HMC worldwide production volume for May 2015 was 355,893 units, down 6.5% from the figure recorded in May 2014. Production outside Japan increased 4.1% to 312,120 units, which is a record high for May. Meanwhile, production in Japan plunged 45.6% to 43,773 units in the month, marking the tenth continuous month of decline.
The increase in production outside Japan resulted from a 5.3% rise in production in North America to 159,136 units, a record high for the month of May, and a 38.4% improvement in other regions to 15,066 units. However, these were partially offset by a 1.3% fall in Europe to 7,348 units. Production in Asia remained in line with the year-ago level of 130,570 units despite a 5.2% decline in China.
Sales in the Japanese market went down 13.6% year over year to 46,645 units in May. New vehicle registrations decreased 11.5% to 26,619 units. Mini vehicles’ sales fell 16.2% to 20,026 units.
The Honda Fit, which recorded sales of 7,680 units, was the fourth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in May 2015. STEPWGN and VEZEL were the eighth and ninth top-selling vehicles, respectively, with sales of 5,087 units and 4,846 units.
Under the Mini vehicles category, N-BOX was the best-selling vehicle, with sales of 10,397 units. N-WGN was the ninth highest-selling vehicle in the industry, with sales of 5,120 units.
Exports from Japan plunged 19% year over year to 1,882 units in May. This is the third consecutive month of decline in exports.
Honda currently carries a Zacks Rank #4 (Sell). Better-ranked automobile stocks include The Goodyear Tire & Rubber Company GT, Fox Factory Holding Corp FOXF and U.S. Auto Parts Network, Inc. PRTS. Goodyear currently sports a Zacks Rank #1 (Strong Buy), while both Fox Factory Holding and U.S. Auto Parts carry a Zacks Rank #2 (Buy).
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