Honda sees total production and sales decrease in October

Honda Motor Co Ltd reported a decline in sales, production, and exports in October compared to the same month last year, though total sales and exports for the year to date remain higher.

Honda sees total production and sales decrease in October

The Tokyo-based automaker said total production fell by 16%, dropping to 340,777 units in October from 405,276 units in the same month in 2023. Production in Japan reached 66,072 vehicles, down 11% from 73,939 units the previous October, while production outside Japan decreased by 17%, falling to 274,705 units from 331,337. This marks the third consecutive month of annual declines in both total production and production outside Japan. In China, production saw a steep 46% drop, falling to 62,629 units from 115,694 units.

Output in first 10 months

For the year through October, total production dropped 37%, to 2.2 million units from 3.4 million in the same period last year. Production in Japan saw a slight increase, edging up to 573,096 units from 572,988 units, while production outside Japan plunged by 39%, to 1.8 million vehicles from 2.9 million. In China, production dropped dramatically by 56%, falling to 447,775 units from 1 million. In the Japanese market, Honda's total sales in October fell by 7.7% year-on-year, dropping to 53,242 units from 57,668. This marked Honda’s first annual sales decline in 15 months. However, for the first ten months of the year, sales in Japan increased by 18%, reaching 568,656 units compared to 482,041 vehicles in the same period last year, continuing a trend of annual growth for the third consecutive month. Total exports decreased by 12% in October, dropping to 8,920 units from 10,181 units the previous year, marking the second consecutive month of export declines. However, for the year to date, total exports increased by 5.5%, reaching 70,450 units, up from 66,769 units.