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Honda to Boost SUV Production in US, Shift from Mexico
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Honda Motor Co., Ltd. (HMC - Free Report) has decided to expand the production capacity of its new generation CR-V sport utility vehicle (SUV), shifting production to the U.S. from Mexico. The decision is expected to impact this vehicle segment by intensifying competition.
Honda also unveiled the re-engineered 2017 CR-V on Wednesday in Detroit's Eastern Market. Further, the company will be expanding the overall production of cars in North America by building CR-Vs at Alliston, Ontario, East Liberty, OH and for the first time in Greensburg, IN. The facility in Greensburg will be producing the capacity that will be shifted from Mexico. This facility has the capacity to manufacture roughly 250,000 vehicles per annum and will continue producing the Honda Civic along with the CR-V.
Honda has decided to produce both models side by side for an easier shift in production between the two. The company expects demand for SUVs to grow while that of sedans is likely to reduce. Honda has not yet revealed the pricing or mileage data for the new CR-V, which is slated to be sold from later this year.
Auto manufacturers primarily dedicated to producing small cars have faced problems recently. Fiat Chrysler Automobiles N.V. has started laying off employees at two of its U.S. car factories, which it now plans to retool to build trucks and SUVs.
Goodyear Tire has seen its earnings estimates move north over the last 60 days. Also, the company posted positive earnings surprises over the last four quarters, with an average of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
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Honda to Boost SUV Production in US, Shift from Mexico
Honda Motor Co., Ltd. (HMC - Free Report) has decided to expand the production capacity of its new generation CR-V sport utility vehicle (SUV), shifting production to the U.S. from Mexico. The decision is expected to impact this vehicle segment by intensifying competition.
Honda also unveiled the re-engineered 2017 CR-V on Wednesday in Detroit's Eastern Market. Further, the company will be expanding the overall production of cars in North America by building CR-Vs at Alliston, Ontario, East Liberty, OH and for the first time in Greensburg, IN. The facility in Greensburg will be producing the capacity that will be shifted from Mexico. This facility has the capacity to manufacture roughly 250,000 vehicles per annum and will continue producing the Honda Civic along with the CR-V.
Honda has decided to produce both models side by side for an easier shift in production between the two. The company expects demand for SUVs to grow while that of sedans is likely to reduce. Honda has not yet revealed the pricing or mileage data for the new CR-V, which is slated to be sold from later this year.
Auto manufacturers primarily dedicated to producing small cars have faced problems recently. Fiat Chrysler Automobiles N.V. has started laying off employees at two of its U.S. car factories, which it now plans to retool to build trucks and SUVs.
HONDA MOTOR Price
HONDA MOTOR Price | HONDA MOTOR Quote
Zacks Rank
Honda currently sports a Zacks Rank #1 (Strong Buy).
Other equally well-ranked companies in the auto space include The Goodyear Tire & Rubber Company (GT - Free Report) and Tata Motors Limited . You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear Tire has seen its earnings estimates move north over the last 60 days. Also, the company posted positive earnings surprises over the last four quarters, with an average of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>