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

Before the W177 goes on sale in 2018, Mercedes-Benz had to go back to the drawing board to check on the A Class’ interior. This is because the new model...
by - November 24, 2017
If you see the Aston Martin’s 2018 Vantage, you would think that it is significantly different from most of Aston’s GT lineup. For instance, if the DB11 is a fine...
by - November 24, 2017
Even as Chevrolet is making a huge splash in the industry with the recent launch of the new Corvette ZR1, there may be trouble brewing. Chevrolet has announced huge discounts...
by - November 24, 2017
The 2018 GMC Sierra 2500HD has arrived this week at the snowy mountains in Colorado for its winter long debut. GMC’s tracked Sierra Mountain Concept will be on display at...
by - November 24, 2017
We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 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