Honda Motor Co., Ltd.’s HMC production in Japan improved 2.8% to 6Array,8Array0 units in January. Production outside Japan increased Array3% to 342,449 units, which was a record high for the month of January. Consequently, worldwide production volume for Jan 20Array6 was 404,259 units, up ArrayArray.3% from the figure recorded in Jan 20Array5. Honda’s global production volume was a record high for the month of January.
The increase in production outside Japan resulted from a 3% rise in North America to a January record of Array62,340 units and a 30.3% improvement in Asia to a January record of Array57,078 units, which offset the 8.6% fall in production in Europe to Array0,878 units and a 6% decline in other regions to Array2,Array53 units. Production in China reached a January high of 95,798 units.
Sales in the Japanese market went down Array9.5% year over year to 5Array,207 units in January. New vehicle registrations fell ArrayArray.2% to 26,553 units. Mini vehicles’ sales decreased 26.9% to 24,654 units.
The Honda Fit, which recorded sales of 7,29Array units, was the fifth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Jan 20Array6. VEZEL was the tenth top-selling vehicle, with sales of 5,584 units.
Under the Mini vehicles category, N-BOX was the second best-selling vehicle, with sales of Array3,754 units. N-WGN was the tenth highest-selling vehicle in the industry, with sales of 6,Array82 units.
Exports from Japan surged 32Array.3% year over year to Array0,224 units in January. This was the seventh continuous month of increase in exports.
Honda currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include Cooper Tire & Rubber Co. CTB, Fuji Heavy Industries Ltd. FUJHY and The Goodyear Tire & Rubber Company GT. While both Cooper Tire and Fuji Heavy Industries currently sport a Zacks Rank #Array (Strong Buy), Goodyear holds a Zacks Rank #2 (Buy).
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