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Honda Reports 2.1% Hike in Global Production in January
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Share price of Honda Motor Co., Ltd.’s (HMC - Free Report) decreased 0.9% to $30.97 after the company reported decline in export from Japan in Jan 2017. Exports from the country decreased 52% year over year to 4,904 units. However, the company recorded worldwide production volume of 412,723 units, up 2.1% year over year from Jan 2016.
In fact, production outside Japan was also up 2.2% with 349,834 units, reflecting growth for the sixth consecutive month. All these positives resulted in record high production for the month of January. Additionally, production in Japan rose 1.7% to 62,889 units in the same month, which marked the third continuous month of year over year increase.
The improvement in production outside Japan resulted from a 4.3% rise in Asia to 163,774 units, 40.7% rise in Europe to 15,305 units and a 1.7% improvement in other regions to 12,362 units. Also, production in China increased 6.9% to 102,444 units. However, these positives were partially offset by a 2.4% fall in production in North America to 158,393 units and production in US declined 3% to 102,632 units.
Sales in the Japanese market increased 16.2% year over year to 59,512 units in January, marking the fifth continuous month of increase. While, new vehicle registrations went up 14.3% to 30,337 units, mini vehicles’ sales rose 18.3% to 29,175 units.
The Honda FREED, which recorded sales of 9,029 units, was the sixth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Jan 2017. In the Mini vehicles category (under 660cc), N-BOX was the best-selling vehicle, with sales of 17,641 units. N-WGN was the seventh best-selling vehicle in the industry, recording sales of 6,808 units.
The performance of Honda’s shares has been better than the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. While, the company’s shares have rallied 5.4%, the industry lost 0.5%. The performance of the company’s shares was due to better-than-expected earnings in the last reported quarter.
Zacks Rank & Key Picks
Honda currently sports a Zacks Rank #1 (Strong Buy).
For the current year, Lear Corporation, American Axle and General Motors expect earnings growth of around 8.9%, 8.1% and 9.4%, respectively.
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Honda Reports 2.1% Hike in Global Production in January
Share price of Honda Motor Co., Ltd.’s (HMC - Free Report) decreased 0.9% to $30.97 after the company reported decline in export from Japan in Jan 2017. Exports from the country decreased 52% year over year to 4,904 units. However, the company recorded worldwide production volume of 412,723 units, up 2.1% year over year from Jan 2016.
In fact, production outside Japan was also up 2.2% with 349,834 units, reflecting growth for the sixth consecutive month. All these positives resulted in record high production for the month of January. Additionally, production in Japan rose 1.7% to 62,889 units in the same month, which marked the third continuous month of year over year increase.
The improvement in production outside Japan resulted from a 4.3% rise in Asia to 163,774 units, 40.7% rise in Europe to 15,305 units and a 1.7% improvement in other regions to 12,362 units. Also, production in China increased 6.9% to 102,444 units. However, these positives were partially offset by a 2.4% fall in production in North America to 158,393 units and production in US declined 3% to 102,632 units.
Sales in the Japanese market increased 16.2% year over year to 59,512 units in January, marking the fifth continuous month of increase. While, new vehicle registrations went up 14.3% to 30,337 units, mini vehicles’ sales rose 18.3% to 29,175 units.
The Honda FREED, which recorded sales of 9,029 units, was the sixth best-selling vehicle in the industry among new vehicle registrations (excluding mini vehicles) in Jan 2017. In the Mini vehicles category (under 660cc), N-BOX was the best-selling vehicle, with sales of 17,641 units. N-WGN was the seventh best-selling vehicle in the industry, recording sales of 6,808 units.
Honda Motor Company, Ltd. Price
Honda Motor Company, Ltd. Price | Honda Motor Company, Ltd. Quote
Price Performance
The performance of Honda’s shares has been better than the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. While, the company’s shares have rallied 5.4%, the industry lost 0.5%. The performance of the company’s shares was due to better-than-expected earnings in the last reported quarter.
Zacks Rank & Key Picks
Honda currently sports a Zacks Rank #1 (Strong Buy).
Other favourably-ranked companies in the auto space include Lear Corporation (LEA - Free Report) , American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and General Motors Company (GM - Free Report) . All these stocks also sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, Lear Corporation, American Axle and General Motors expect earnings growth of around 8.9%, 8.1% and 9.4%, respectively.
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1?
In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months.
Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>