Japanese auto behemoth Honda is going through a churning of sorts in 2015. CEO Takanobu Ito resigned, leaving the company's reins and his reforms in the hands of his replacement, Takahiro Hachigo. The company has given up on its target of selling six million vehicles globally through 2017, and reported a 5% sales drop in March in the U.S. -- its biggest market. The juggernaut is losing steam, but could it come out stronger than ever?
Accord, Civic, and CR-V sales in the U.S. Data source: Goodcarbadcar. Chart by author.
Back to basics
Under CEO Ito, Honda witnessed an era of expansions (setting up manufacturing facilities in India, Mexico, and China) and aggressive sales push. Hachigo time in power could be one where the automaker goes back to basics. In the U.S., it will continue to face stiff competition, but the company's focus on quality could make Honda look within and rediscover the strengths that have made it a loved brand for millions.
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The article Where Is Honda Motor Co. Headed in 2015? originally appeared on Fool.com.
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