The demand in North America and Asia will offset yen, says Honda CFO

Article by Christian A., on November 10, 2010

Honda announced that it will help offset the effect of the strong yen in emerging market such as North America and Asia.

According to Chief Financial Officer Yoichi Hojo, the second-largest car manufacturer in Japan, wants to increase sales by 100,000 vehicles in the United States, but also by a further 100,000 in emerging markets, such as Thailand and India. Apparently, Honda wants to achieve these numbers within few years.

Furthermore, the manufacturer raised its full-year net income forecast 10 percent to 500 billion yen ($6.2 billion), due to the fact that its car and motorcycle sales increased in Asia.

Same Yoichi Hojo said that Honda will help prevent further economic decline with some help from a Federal Reserve plant to buy an additional $600 billion of Treasuries through June.

“The U.S. has deep pockets,” he said. “With a rising population, demand will also grow. I don't see a long-term economic decline there.”

For those who don’t know, Honda sales increased by 16 percent to 98,811 vehicles in October from a year earlier. Honda also expects to spend $1,500 per vehicle on incentives in the U.S., with $100 more than an earlier plan for this fiscal year.

If you liked the article, share on:

Comments

Recommended

Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
As it is now, Nissan Motor’s Nismo road car operations is a relatively a small business, with an annual volume of 15,000 performance-oriented cars. However, Nissan is giving Nismo fans...
by - May 21, 2017
The refreshed 2018 Acura TLX will be hitting the showrooms next month with a starting price of $33,000 for the TLX 2.4L and $36,200 for the V6. Coming out with...
by - May 21, 2017
Around four months after Chevrolet commenced selling the 2017 Chevrolet Bolt in the United States, this accessible electric crossover has already reached a new milestone. As Chevrolet disclosed, as of...
by - May 21, 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