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Why Was Honda’s US Sales Growth Better than Its Peers’?

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Nov. 20 2020, Updated 3:12 p.m. ET

Honda Motor Company

Honda Motor Company (HMC) is the second-largest Japanese automaker after Toyota Motor (TM). It’s the world’s largest internal combustion engine manufacturer by volume. 

North America is the largest single market for Honda. In 2016, North America accounted for 56% of the company’s total revenue. Being a Japanese automaker, the company reports its annual results from April to March.

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Firm December sales

In December 2016, American Honda Motor Company reported a year-over-year (or YoY) rise of 6.4% to 160,000 vehicle units, compared to 151,000 units in the previous year. In November, the company’s US sales also rose 6.5% to 123,000 vehicle units.

For the month, the company’s US car sales fell 4% YoY, while its truck sales rose 17.4% YoY.

Honda manufactures the majority of its cars in the United States and imports a small portion from Japan to sell in the US market. Interestingly, the company’s US manufactured car sales fell 15.4% YoY in December, but its imported car sales rose 208% YoY.

Annual growth in all segments

In 2016, American Honda sold ~1.6 million units in the US market with a YoY rise of 3.2%. Notably, Honda was the only automaker among other mainstream automakers (XLY) such as General Motors (GM), Ford Motor Company (F), and Toyota to report a YoY rise in its 2016 car sales.

Honda’s car sales rose 1.1% YoY in 2016, while its truck sales for the year rose 5.6% YoY.

Read on to the next article to learn about Volkswagen’s US sales in 2016.

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