Honda Motor Co., Ltd.’s HMC worldwide production volume for Oct 2015 was 413,779 units, up 2.8% from the figure recorded in Oct 2014. Production outside Japan increased 3.6% to 338,331 units, which was a record high for the month of October. Meanwhile, production in Japan fell 0.7% to 75,448 units in October, marking the fifteenth continuous month of decline.
The increase in production outside Japan resulted from a 32.7% rise in Europe to 8,841 units; a 18.4% rise in Asia to an October record of 150,317 units; and a 9.2% improvement in other regions to 15,726 units, which offset the 8.5% fall in production in North America to 163,447 units. Production in China reached an October high of 89,094 units.
Sales in the Japanese market went down 6.5% year over year to 55,309 units in October. New vehicle registrations decreased 4.3% to 31,736 units. Mini vehicles’ sales fell 17.9% to 23,573 units.
The Honda Fit, which recorded sales of 10,189 units, was the third best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Oct 2015. VEZEL was the ninth top-selling vehicle, with sales of5,412 units.
Under the Mini vehicles category, N-BOX was the best-selling vehicle, with sales of 12,277 units. N-WGN was the tenth highest-selling vehicle in the industry, with sales of 6,153 units.
Exports from Japan surged 301.8% year over year to 11,118 units in October. This was the fourth continuous month of increase in exports.
Honda currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include General Motors Co. GM, O'Reilly Automotive Inc. ORLY and Pep Boys – Manny, Moe & Jack PBY. All these stocks carry a Zacks Rank #2 (Buy).
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