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Honda’s US Truck Sales Were Weaker in April 2017

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Dec. 4 2020, Updated 10:51 a.m. ET

Honda’s US sales in April                                                    

In April 2017, the US division of Honda Motor Company (HMC) reported a YoY (year-over-year) drop of ~7.0% in its US market sales. In April, the company sold ~138,386 vehicle units in the US—lower than 148,829 units sold in April last year. Notably, April was the second consecutive month with lower US sales. The company posted a YoY increase in US sales for the previous four months. In March 2017, Honda’s US sales fell 0.70% YoY to 137,227 vehicle units.

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Segment-wise sales

In April, Honda’s total US car sales witnessed a significant fall of ~10.8% YoY and stood at 69,427 car units. Its total US truck sales fell 2.9% YoY to 68,959 vehicle units. April was the first month in 2017 that Honda reported lower US truck sales on a YoY basis. Weaker truck sales could hurt Honda’s second quarter profitability from the US market.

Note that Honda manufactures most of its cars in the US. It imports a small portion of its cars from Japan to sell in the US market. Interestingly, the company’s US manufactured car sales fell 22.2% YoY in April, while its imported car sales stood strong at 13,006 units—much higher than 5,311 units sold in April 2016.

Honda in North America

Honda is the second-largest Japanese automaker after Toyota (TM). It’s the world’s largest internal combustion engine manufacturer by volume. North America is the largest single market for Honda. As a result, North America continues to be one of the key markets for Honda.

Last year, Honda sold ~1.63 million units in the US market with a YoY increase of 3.2%. Notably, Honda was the only automaker among other mainstream automakers (XLY)—such as General Motors (GM), Ford (F), and Toyota—to report YoY gains in its fiscal 2016 car sales.

The company’s car sales rose 1.1% YoY in 2016, while its truck sales rose 5.6% on a YoY basis.

In the next part, we’ll discuss Volkswagen’s US sales in April 2017.

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