Honda Motor Co., Ltd.’s (HMC - Free Report) production in Japan surged 29.4% to 56,652 units in May. Production outside Japan increased 9.4% to 341,419 units, which was a record high for the month of May. Consequently, worldwide production volume for May 2016 was 398,071 units, up 11.8% from the figure reported in May 2015. The automaker’s global production volume was a record high for the month of May.
Production outside Japan was driven by a 6.5% rise to 169,526 units in North America, a 41.2% improvement to 10,376 units in Europe and a 14.1% increase to 149,040 units in Asia. Honda set a May production record in North America and Asia. These improvements thus offset the 17.2% decline in other regions to 12,477 units. Production in China reached a May high of 85,523 units.
Sales in the Japanese market went up 4.5% year over year to 48,735 units in May. New vehicle registrations rose 5% to 27,948 units, while mini vehicles’ sales grew 3.8% to 20,787 units.
The Honda Fit, which recorded sales of 8,770 units, was the fourth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in May 2016. VEZEL was the eighth top-selling vehicle, with sales of 5,776 units.
Under the Mini vehicles category, N-BOX was the best-selling vehicle, with sales of 11,486 units. N-WGN was the sixth highest-selling vehicle in the industry, with sales of 6,171 units.
Exports from Japan soared 166.5% year over year to 5,015 units in May. This was the eleventh continuous month of increase in exports.
Honda currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked automobile stocks include Spartan Motors Inc. , Visteon Corporation (VC - Free Report) and Unique Fabricating, Inc. . All these stocks sport a Zacks Rank #1 (Strong Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Honda Motor Co., Ltd.’s (HMC - Free Report) production in Japan surged 29.4% to 56,652 units in May. Production outside Japan increased 9.4% to 341,419 units, which was a record high for the month of May. Consequently, worldwide production volume for May 2016 was 398,071 units, up 11.8% from the figure reported in May 2015. The automaker’s global production volume was a record high for the month of May.
Production outside Japan was driven by a 6.5% rise to 169,526 units in North America, a 41.2% improvement to 10,376 units in Europe and a 14.1% increase to 149,040 units in Asia. Honda set a May production record in North America and Asia. These improvements thus offset the 17.2% decline in other regions to 12,477 units. Production in China reached a May high of 85,523 units.
Sales in the Japanese market went up 4.5% year over year to 48,735 units in May. New vehicle registrations rose 5% to 27,948 units, while mini vehicles’ sales grew 3.8% to 20,787 units.
The Honda Fit, which recorded sales of 8,770 units, was the fourth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in May 2016. VEZEL was the eighth top-selling vehicle, with sales of 5,776 units.
Under the Mini vehicles category, N-BOX was the best-selling vehicle, with sales of 11,486 units. N-WGN was the sixth highest-selling vehicle in the industry, with sales of 6,171 units.
Exports from Japan soared 166.5% year over year to 5,015 units in May. This was the eleventh continuous month of increase in exports.
Honda currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked automobile stocks include Spartan Motors Inc. , Visteon Corporation (VC - Free Report) and Unique Fabricating, Inc. . All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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