Honda Motor Co., Ltd. (HMC - Free Report) is set to stop automobile production in Argentina in 2020, per Reuters. This move is part of its plan of reorganizing automobile production across the globe and has no relation with the primary election results in the Latin American country.
The Japan-based auto giant began motorcycle production in Argentina in 2006 and started automobile production in 2011. From next year, the Campana plant in the province of Buenos Aires will solely concentrate on motorcycle production and will stop producing the HR-V auto model.
Honda is a leading manufacturer of automobiles and the largest producer of motorcycles in the world. In the first quarter of fiscal 2020, the company reported operating profit of ¥252.4 billion, down 15.7% from the year-ago period. The decline in operating profit can be attributed to high selling, general and administrative expenses, adverse impacts of foreign currency, and decreased sales revenues. These negative factors were partly offset by continuous cost-reduction efforts.
Honda Argentina employs 1,000 people. The company is trying to offer buyouts for the employees engaged in automobile production.
Honda generates the majority of revenues in the automobile division from the markets in North America and Japan. Countries in Asia — including China, India, Indonesia, Korea, Malaysia, Pakistan, the Philippines, Singapore, Taiwan, Thailand and Vietnam remain major contributors to revenues for the motorcycle segment.
Currently, Honda has an expected long-term growth rate of 6.9%.
Some important stocks in the auto space are Fox Factory Holding Corp (FOXF - Free Report) , CarMax, Inc. (KMX - Free Report) and Gentex Corporation (GNTX - Free Report) . These companies have expected long-term growth rates of 16.7%, 12.6% and 5%, respectively.
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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.
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Honda Motor Co., Ltd. (HMC - Free Report) is set to stop automobile production in Argentina in 2020, per Reuters. This move is part of its plan of reorganizing automobile production across the globe and has no relation with the primary election results in the Latin American country.
The Japan-based auto giant began motorcycle production in Argentina in 2006 and started automobile production in 2011. From next year, the Campana plant in the province of Buenos Aires will solely concentrate on motorcycle production and will stop producing the HR-V auto model.
Honda is a leading manufacturer of automobiles and the largest producer of motorcycles in the world. In the first quarter of fiscal 2020, the company reported operating profit of ¥252.4 billion, down 15.7% from the year-ago period. The decline in operating profit can be attributed to high selling, general and administrative expenses, adverse impacts of foreign currency, and decreased sales revenues. These negative factors were partly offset by continuous cost-reduction efforts.
Honda Argentina employs 1,000 people. The company is trying to offer buyouts for the employees engaged in automobile production.
Honda generates the majority of revenues in the automobile division from the markets in North America and Japan. Countries in Asia — including China, India, Indonesia, Korea, Malaysia, Pakistan, the Philippines, Singapore, Taiwan, Thailand and Vietnam remain major contributors to revenues for the motorcycle segment.
Currently, Honda has an expected long-term growth rate of 6.9%.
Some important stocks in the auto space are Fox Factory Holding Corp (FOXF - Free Report) , CarMax, Inc. (KMX - Free Report) and Gentex Corporation (GNTX - Free Report) . These companies have expected long-term growth rates of 16.7%, 12.6% and 5%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
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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