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Honda's (HMC) Global Output, Japan Sales Rise in November
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Honda Motor Co., Ltd. (HMC - Free Report) reported record November high worldwide production volumes for Nov 2016 at 458,822 units, up 11.8% from Nov 2015. Production outside Japan was up 11.7% to a new high of 377,303 units. Meanwhile, production in Japan scaled 12.6% to 81,519 units in the month.
The upside in production outside Japan resulted from improved production across all regions. Asia, China and North America also reported record-high production in the month of November. Production in North America increased 6.5% to 158,438 units, marking a 15.5% rise to 189,853 units in Asia and a 53.7% hike to 13,950 units in Europe. Production in China increased 26.3% to 132,401 units while the same in the U.S. went up 9.2% to 102,566 units. However, these positives were partially marred by a 4.3% production decline in other regions to 15,062 units.
Sales in Japan increased 9.4% year over year to 58,164 units in November, underlining the third consecutive month of a year-over-year increase. New vehicle registrations went up 16.8% to 31,681 units. Mini vehicle sales rose 1.7% to 26,483 units.
FREED, which recorded sales of 10,445 units, was the fifth best-selling car in the industry among new vehicle registrations in Nov 2016. Honda Fit, which recorded sales of 6,333 units, was the ninth best-selling vehicle in the industry. In the Mini vehicles category (under 660cc), N-BOX was the best-selling vehicle, garnering sales of 14,814 units. N-WGN was the fifth best-selling vehicle with sales of 6,736 units.
Exports from Japan decreased 2.8% year over year to 12,334 units in November.
Honda has underperformed the Zacks categorized Auto Manufacturers-Foreign industry so far this year. The company’s shares lost 7.4% compared to the industry’s decline of 4.6%. The decline can be attributed to frequent recalls, slashed fiscal 2017 revenue guidance, declining sales in Japan and high research and development expenses.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and GKN plc .
Allison Transmission and GKN carry a Zacks Rank #2 (Buy). Allison Transmission has a long-term growth rate of 11% while GKN projects long-term growth of 6.2%.
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Honda's (HMC) Global Output, Japan Sales Rise in November
Honda Motor Co., Ltd. (HMC - Free Report) reported record November high worldwide production volumes for Nov 2016 at 458,822 units, up 11.8% from Nov 2015. Production outside Japan was up 11.7% to a new high of 377,303 units. Meanwhile, production in Japan scaled 12.6% to 81,519 units in the month.
The upside in production outside Japan resulted from improved production across all regions. Asia, China and North America also reported record-high production in the month of November. Production in North America increased 6.5% to 158,438 units, marking a 15.5% rise to 189,853 units in Asia and a 53.7% hike to 13,950 units in Europe. Production in China increased 26.3% to 132,401 units while the same in the U.S. went up 9.2% to 102,566 units. However, these positives were partially marred by a 4.3% production decline in other regions to 15,062 units.
Sales in Japan increased 9.4% year over year to 58,164 units in November, underlining the third consecutive month of a year-over-year increase. New vehicle registrations went up 16.8% to 31,681 units. Mini vehicle sales rose 1.7% to 26,483 units.
FREED, which recorded sales of 10,445 units, was the fifth best-selling car in the industry among new vehicle registrations in Nov 2016. Honda Fit, which recorded sales of 6,333 units, was the ninth best-selling vehicle in the industry. In the Mini vehicles category (under 660cc), N-BOX was the best-selling vehicle, garnering sales of 14,814 units. N-WGN was the fifth best-selling vehicle with sales of 6,736 units.
Exports from Japan decreased 2.8% year over year to 12,334 units in November.
HONDA MOTOR Price
HONDA MOTOR Price | HONDA MOTOR Quote
Price Performance
Honda has underperformed the Zacks categorized Auto Manufacturers-Foreign industry so far this year. The company’s shares lost 7.4% compared to the industry’s decline of 4.6%. The decline can be attributed to frequent recalls, slashed fiscal 2017 revenue guidance, declining sales in Japan and high research and development expenses.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and GKN plc .
America's Car-Mart has a long-term growth rate of 56%. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission and GKN carry a Zacks Rank #2 (Buy). Allison Transmission has a long-term growth rate of 11% while GKN projects long-term growth of 6.2%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>