According to the latest media reports, it appears that Honda is planning to end exports of the popular CR-V to the United States from Japan. Same sources say that the new CR-V model, which is due to be launched this autumn, is part of Honda’s plan to increase production in the United States in order to reduce yen exposure.
Honda’s Chief Financial Officer Yoichi Hojo said that firm’s profit structure has improved thanks to robust overseas operations and that the toughest area remains exports from Japan.
This means that the best move that Honda could make in order to maintain its profits will be to increase production of the CR-V in the United States. For those who don’t know, Japanese manufacturers are currently losing money on many models exported from Japan-based factories.
Still, Honda has the least currency exposure among Japan's top automakers due to its low export ratio of 30 percent. Other manufacturers can’t say the same thing as Toyota and Nissan shipped 53 percent of its Japan-made vehicles, 59 percent respectively.
As you can remember, Nissan already announced last month that it will shift production of its Rogue crossover from Japan to the United States when the new model will arrive in 2013. [via autonews - sub. required]