Honda is the only Japanese manufacturer to boost its worldwide production for the first half of the year.
Honda is the only Japanese manufacturer to boost its worldwide production for the first half of the year.
In a lacklustre domestic market, Honda has stepped up global output by 5,7 per cent to 1,34 million cars from January to June, according to industry data.
Nissan said its output from January to June fell 3,2 per cent year-on-year to 1,25 million units, capped by a 10 per cent decline in June alone. Toyota’s output declined 0,6 per cent from a year earlier to 2,60 million units in the first half of the year.
Its domestic production fell for the first time in two years because of decreases in domestic sales and exports. Its exports also fell because of expansion in overseas production. Exports to North America dropped by 5,1 per cent, to 306 356 vehicles. Those for Europe decreased by 10,6 per cent to 217 207. Mitsubishi had the biggest drop with a 8,6 per cent cutback. The company suffered after a massive recall last year.
Honda’s output was boosted by good sales in Japan.
“We are seeing increased popularity among Honda’s new models in both Japan and the United States,” said Tatsuo Yoshida, analyst at Deutsche Securities. “Any models they have launched in the last year have been a hit.
“Most of the good news is already priced into the share, but relative to earnings, there is probably a little more upside potential,” said Yoshida.
