2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-03 21:17
Car manufacturer Honda expects a further increase in sales for 2008. The Japanese are worried about their home market.
The Japanese carmaker Honda expects growth in almost all important markets in the coming year after a record sales this year. The company announced in Tokyo on Wednesday that impetus will continue to come from growth markets like China. Growth is likely to slow there, however, as is the case in the USA, where the credit crunch and high fuel prices are dampening consumers' willingness to buy. But there are problems on the Japanese home market.
In China, Honda expects sales to increase by 17 percent to 490,000 vehicles. For the rest of Asia, Honda expects an increase of 20 percent to 415,000 units. In Europe, the Japanese want to sell 420,000 vehicles, that is eleven percent more than in 2007.
In the difficult US market, Honda expects growth of only three percent to 1.59 million cars. This year the growth is around three percent. Total sales of all brands in the US market will decline to 15.9 to 16.0 million cars in the coming year, after 16.1 to 16.2 million cars in 2007, Honda estimates.
The year that is coming to an end is likely to end with a record sales for Honda. The target is an increase of six percent to 3.76 million vehicles. The Japanese market remains a problem child. A decline of 12 percent to 620,000 units is expected here. Honda does not want to present a forecast for 2008 until March. (dpa)
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