Honda Motor Co., Ltd.’s HMC production in Japan surged 16.7% to 72,416 units in November, marking the first increase since Jul 2014. Production outside Japan increased 9.3% to 337,862 units, which was a record high for the month of November. Consequently, worldwide production volume for Nov 2015 was 410,278 units, up 10.5% from the figure recorded in Nov 2014. Honda’s global production volume was a record high for the month of November.
The increase in production outside Japan resulted from a 6.4% rise in North America to a November record of 148,733 units; a 13% rise in Asia to a November record of 164,315 units; and a 22% improvement in other regions to 15,736 units, which offset the 18.3% fall in production in Europe to 9,078 units. Production in China reached a November high of 104,836 units.
Sales in the Japanese market went up 3.3% year over year to 53,165 units in November. New vehicle registrations increased 8.7% to 27,130 units. Mini vehicles’ sales fell 1.8% to 26,035 units.
The Honda Fit, which recorded sales of 7,325 units, was the fifth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Nov 2015. VEZEL was the ninth top-selling vehicle, with sales of5,131 units.
Under the Mini vehicles category, N-BOX was the best-selling vehicle, with sales of 14,035 units. N-WGN was the eighth highest-selling vehicle in the industry, with sales of 6,597 units.
Exports from Japan surged 475.6% year over year to 12,691 units in November. This was the fifth 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 Fox Factory Holding Corp FOXF. All these stocks carry a Zacks Rank #2 (Buy).
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