Honda Motor Co., Ltd.
) increased 0.74% to $41.11 on Dec 26, 2013 after the automaker
released the Nov 2013 sales results. Honda's worldwide production
volume for Nov 2013 stood at 398,238 units, up 24% from a year
ago. Production outside Japan escalated 21% to 301,403 units.
Meanwhile, production in Japan rose 34.5% to 96,835 units.
The increased production outside Japan was driven by a 71%
increase in production in Asia. This was partially offset by a
12.1% decline in production in Europe and a 17.9% drop in other
regions. The year-over-year improvement in Asia was mainly due to
a 222.1% increase in production in China. North America too
registered 2.4% rise in production, driven by a 5% year over year
increase in the U.S.
Sales in the Japanese market went up 47.6% year over year to
74,008 units. New vehicle registrations surged 111.5% to 41,324
units. Mini vehicles' sales augmented 6.8% to 32,684 units.
Fit was the best-selling vehicle among new vehicle registrations
(excluding mini vehicles) in Nov 2013 with sales of 26,235 units.
Freed was the tenth top-selling vehicle with sales of 4,788
Under the Mini vehicles category, N-BOX was the highest-selling
vehicle with sales of 19,512 units. N-ONE was the ninth
best-selling vehicle with sales of 6,174 units.
Export from Japan decreased 38.2% y/y to 8,602 units in November.
The decline was driven by weak exports to North America,
partially offset by higher exports to Europe and Asia.
Honda expects revenues to increase 22.5% to ¥12.1 trillion in
fiscal 2014. Operating profit is expected to hike 43.2% to ¥780
billion and net income is projected to rise 58% to ¥580 billion
or ¥321.81 per share. The company expects higher revenues,
favorable model mix, effective cost reduction measures, favorable
currency effect and positive impact of raw material cost
fluctuations to contribute to increase in profits during the
Currently, Honda has a Zacks Rank #2 (Buy).
Tata Motors Ltd
Fuji Heavy Industries Ltd.
) are other prominent players in the foreign automobile
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