Honda is on the road to recovery.
After the pandemic caused worldwide disruption across the automotive industry, car manufacturers are making miraculous recoveries as production ramps back up and sales are on the rise. Recently, Jaguar Land Rover announced its increased global sales helped the automaker generate a profit for the first time in 2020. Despite the pandemic, Toyota also set new production and sales records last month.
Now, Honda has released its production figures, domestic sales, and export results for the first half of the current fiscal year (April 2020-March 2021) and September 2020. Once again, these figures show the auto industry is on the road to recovery, as Honda set a new production record in September.
For the first time in five years, Honda's production figures in Japan were down year-on-year, falling by around 25 percent with 332,303 units produced. In regions outside of Japan, production also decreased year-on-year for the second consecutive year, while worldwide production decreased for the first time in nine years with 2,109,786 units produced. Luckily, these figures spiked considerably last month.
In China, Honda set a new production record for September, reaching 189,060 units. This was the first time production has increased in 13 months. Production in Asia also reached a record high for September with 232,621 units built. Production in regions outside of Japan increased year-on-year for the first time in two months, while worldwide production increased for the first time in 14 months, reaching 472,696 units.
Honda's domestic sales in Japan are still down. Last month, Honda sold 59,504 units in Japan, representing 81.4 percent of the Japanese automaker's sales in the same period last year. In the first half of the current fiscal year, Honda's Japanese sales slumped for the first time in four years with 281,586 units sold, representing 74.2 percent of last year's sales.
With sales of 8,922 units, the Honda Fit was the Japanese car industry's sixth best-selling car among new vehicle registrations in September. Total exports from Japan for the first half of the current fiscal year were also down year-on-year for the second consecutive year and down in September year-on-year for the first time in two months.