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Honda Rides Strong Asian Sales to $1.94 Billion Profit

US sales drop 6% during most recent quarter.

by on Jul.29, 2014

Honda's North American sales were down 6% in the most recent quarter due, in part, to a sluggish start to Fit production in Mexico.

Despite a sales decline in its largest market, North America, Honda posted a $1.94 billion (198 billion yen) operating profit last quarter by cutting costs and expanding sales in other markets, particularly Asia.

The company’s net income jumped 20% while its sales rose just 5%, the company reported. Honda benefitted from the final push of vehicles on back order due to a rush of sales that came before a sales tax hike on April 1.

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Sales in North America, which accounts for about half of Honda’s revenue, fell nearly 1% through the first six months of the year and 6% for the second quarter of the calendar year, which is the maker’s first quarter. (more…)

10 Millionth American-Made Honda Accord Rolls Out

Maker now producing 1.3 mil vehicles North America annually.

by on Mar.20, 2014

The first American-made Honda Accord rolls off the assembly line on November 1, 1982.

There have always been skeptics.  They thought man couldn’t fly, or go to the moon.  They expected Columbus to fall off the edge of the Earth. And they didn’t expect Honda to do much better when it opened an assembly plant in the middle of Ohio nearly 32 years ago.

But that plant in the one-time farming community of Marysville has – like Columbus, Neil Armstrong and the Wright Brothers – proved the skeptics wrong. And sometime today the 10 millionth American-made Honda Accord will roll off the assembly line.

We're There!

It’s a significant milestone, but not the only one the Japanese maker has set lately.  It recently produced its 20 millionth vehicle in North America where it now operates an expansive array of production facilities, including its newest plant in Mexico which recently began producing the latest-generation of the little Honda Fit.  Honda also became a net exporter in 2013 and, going forward, expects to be shipping more vehicles out of its North American plants than it imports to the market.


Honda, Acura Putting Foot on the Gas with New Plans

New structure provides focus for each brand.

by on Mar.10, 2014

Newly named Acura General Manager Mike Accavitti also retains his title as senior vice president of Honda North America. He will oversee the sales and marketing activities for Acura in North America.

The murky plans to split up Honda and Acura to strengthen the division’s luxury brand in North America became clear with the announcement today of Honda North America’s plan to form a Honda Division and an Acura Division.

The plan calls for a realignment of the company’s sales and marketing organization into the divisions instead of being aligned by function as it had previously. The move follows in the steps of the recent establishment of the Acura Business Planning Office, which is designed to give Acura a more independent path from Honda.

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“The goal is to accelerate the already strong sales growth of both the Honda and Acura brands through a more cohesive strategy that we think will bring even greater focus to the unique needs of our Honda and Acura customers,” said John Mendel, executive vice president, Auto Sales, during a conference call today. (more…)

Honda Kicks off Production at New Mexican Plant

Celaya facility making 2015 Honda Fit, engines.

by on Feb.21, 2014

Honda kicked off production of the 2015 Honda Fit at the company's new plant in Celaya, Mexico.

Honda is looking to add sub-compact production by opening a new plant in Mexico today that will produce the 2015 Honda Fit as well as the engines for the car.

Located in Celaya, Guanajuato, which is about 150 miles north of Mexico City, the plant will produce 200,000 Fits when it’s running at full capacity, Honda officials said

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“(The plant) improves our ability to supply fuel efficient sub compacts to North America,” said Rich Schostek, senior vice president of Honda North America and North American Services. “It was critical to us enhancing our competitiveness. It rounds out our capabilities in North America. We can produce all of the vehicles in the lineup (in North America now).” (more…)

Honda Doubles Earnings

Maker gets big boost from weakened yen.

by on Jan.31, 2014

Strong demand for products like the Honda Civic Coupe combined with a weak yen to double quarterly earnings.

Honda more than doubled its quarterly earnings, much of that gain driven by the weak yen, while also picking up momentum in key markets including North America.

The maker reports it earned 160.7 billion yen, or $1.58 billion for the October-December period – its fiscal third quarter – compared with a 77.4 billion net profit during the same period a year ago.

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Honda has been steadily expanding its global manufacturing operations – it now produces about nine of every ten vehicles sold in North America in the region – but favorable exchange rates nonetheless helped the third-largest Japanese maker deliver such a strong quarter, the weak yen credited with adding $4.2 billion, or 425 billion yen, to its revenues for the quarter.


Honda Upping the Ante in North America

Expanding production, increasing exports.

by on Jul.20, 2012

Honda Civic Hybrid production will shift to the U.S. as part of the maker's big North American build-up.

Honda Motor is adding additional capacity at its plant in Indiana as it shifts more production and more responsibility to its operations in North America.

In addition, it expects to double its exports of finished vehicles from the United States to other parts of the world by the middle of the decade, a senior Honda official said Wednesday.

Honda’s North American plants will export about 100,000 units this year to markets in Europe, South America and Asia, Rick Schostek, senior vice president of Honda of America Mfg., Inc., said during an appearance at the Automotive Press Association.

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“That number will double in the next couple of years,” he said, noting that as recently as 2011, Honda’s operations in the U.S. exported just 53,000 units beyond North America.

Honda, which was the first Japanese maker to produce cars in the U.S. – with the opening of its original Marysville, Ohio plant in 1982 – hit a milestone when it produced more vehicles in North America than in Japan last year.


Honda Adding New Small Car Plant in Mexico

Maker’s eighth North American assembly line.

by on Aug.15, 2011

The Honda Fit is likely to be among the first products to roll out of the maker's new Mexican plant. An EV version of the subcompact will launch in 2012.

Plagued by the threat of earthquakes, tsunamis — and lopsided exchange rates, Japanese automakers are shifting more and more manufacturing off the home islands – Honda announcing it will build its eighth North American assembly plant in Mexico.

Set to begin production in 2014, the $800 million factory will produce subcompacts – such as the Honda Fit and CR-Z — for sale in the U.S., Canadian and Mexican markets, the automaker says.  Assembling those low-priced models has become increasingly difficult in Japan, especially with the yen rising to its highest level ever, all but ensuring imports would be money-losers in the North American market.

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The factory will employ 3,200 and have an annual capacity of 200,000.  That will bring the to 1.83 million the total number of Honda and Acura cars and light trucks the carmaker will be able to produce in North America – which it estimates will be about 87% of its volume once the new assembly plant opens.`