Japanese Automakers’ Market Share Expanded in US
Key Japanese automakers
Toyota Motor (TM) and Honda Motor (HMC) are the two largest Japanese automakers. Both of them generate a major portion of their revenues from the United States. According to the 2016 US auto sales volume, Toyota was the third largest and Honda was fifth largest automaker in the US market. Let’s see how these Japanese automakers are faring in 2017 against their US peers (IYK) in terms of market share.
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Market share continued to rise in August
According to data compiled by Good Car Bad Car, Toyota’s US market share rose to ~15.0% in August 2017 compared to ~14.1% a year ago.
Honda Motor has expanded its US market share to ~10.0% in August 2017, slightly higher than 9.9% in the same month of 2016.
In 2017 so far, these two Japanese automakers have boosted their truck segment sales in the US market. This development is important considering a recent fall in US demand for small cars.
In the first eight months of 2017, Toyota’s and Honda’s US truck sales have risen 9.3% and 3.5%, respectively, year-over-year.
Comparing with US peers
In August 2017, Ford Motor’s (F) US market share shrank to ~14.0% from 14.1% a year ago. In contrast, the US market share for General Motors (GM) stayed firm at ~19.0%, which was higher than its market share of ~17.0% in the same month of 2016.
In the next part, we’ll look at the recent stock price movements of auto parts retailers.