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Honda's (HMC) Global Production Rises 29.5% in February

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Honda Motor Co., Ltd. 's HMC production in Japan improved 18.5% to 75,348 units in February. Production outside Japan increased 32.4% to 321,113 units, which was a record high for the month of February. Consequently, worldwide production volume for Feb 2016 was 396,461 units, up 29.5% from the figure recorded in Feb 2015. Honda's global production volume was a record high for the month of February.

Production outside Japan was driven by a 43.1% rise in North America to 175,435 units, and a 29.7% increase in Asia to 125,247 units, both of which were February records. These improvements offset the 23.7% fall in production in Europe to 8,271 units and a 2.8% decline in other regions to 12,160 units. Production in China reached a February high of 65,130 units.

Sales in the Japanese market declined 3.7% year over year to 69,015 units in February. New vehicle registrations improved 7.7% to 36,434 units. Mini vehicles' sales fell 13.9% to 32,581 units.

The Honda Fit, which recorded sales of 10,013 units, was the third best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Feb 2016. VEZEL was the eighth top-selling vehicle, with sales of 7,035 units.

Under the Mini vehicles category, N-BOX was the second best-selling vehicle, with sales of 17,897 units. N-WGN was the fourth highest-selling vehicle in the industry, with sales of 8,974 units.

Exports from Japan soared 432.9% year over year to 11,046 units in February. This was the eighth continuous month of increase in exports.

Honda currently carries a Zacks Rank #4 (Sell). Some better-ranked automobile stocks include Cooper Tire & Rubber Co. CTB , Visteon Corporation VC and The Goodyear Tire & Rubber Company GT . While Cooper Tire currently sports a Zacks Rank #1 (Strong Buy), both Goodyear and Visteon hold a Zacks Rank #2 (Buy).

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HONDA MOTOR (HMC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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