Report: Honda will halve exports from Japan

Article by Christian A., on October 6, 2011

To deal with the increasing yen, Honda Motor Co.’s exports of Japan-built automobiles that are over a decade old will be cut in half, a publication revealed, after a discussion with its chief executive officer Takanobu Ito. The action is in accordance with the company's previously disclosed intention to sell 80-90 percent of cars made in different parts of the world in the local markets to lower the influence of currency swings.

In Asahi newspaper's interview with the CEO, Ito disclosed that in the next 10 years, Honda will minimize exports from Japan -- from 34 percent in the business year ended March 2011 to 10-20 percent.

Honda has stated it would enhance its 660cc mini-vehicle products to increase sales in the diminishing Japanese market. The company will also attempt to maintain yearly output in Japan at around 1 million units. Honda manufactured around 910,000 of its total 3.57 million units in Japan during the last business year.

In February, the automaker stated that it would manufacture more of its prominent CR-V crossovers in North America rather than in Japan to moderate the blow from the strong yen.

Vehicle manufacturers are reeling from the surge of the yen, which hit a decade-year high versus the euro and is staying at around 102 yen. The dollar is approximately 77 yen, in comparison with levels greater than 85 yen in April.

Topics: honda, japan

If you liked the article, share on:

Comments

Recommended

Not a few agree that the Volkswagen Polo news a styling overhaul. While this supermini still looks good as it is now, the latest facelift was around three years. With...
by - April 27, 2017
They say that when the going gets tough, the tough get going. That’s what Harvey Payne did with his Chevrolet Bolt. Ever since he bought it, it had been experiencing...
by - April 27, 2017
What defines a coupe? Well, according to the dictionary, “it is a car with a fixed roof and two doors”. Ok, now that it is clear, when does one not...
by - April 27, 2017
Back in 2013 was when the first hot hatch was released, that was the original A45 by Mercedes-AMG, carrying a hand-built 2.0 liter M133 turbo mill. It was then then...
by - April 27, 2017
BMW dealers have a problem, a good problem. The demand for the 2017 BMW 5 Series is very high, they cannot attend to all the customers. But actually, supplies are...
by - April 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries