Honda expects sales of 1.03 million in Japan in FY 2014
New mini vehicle and new compact series boost sales
Honda Motor Co., Ltd. plans to sell 1.03 million vehicles on retail basis (990,000 units on wholesale basis) in the fiscal year ending March 31, 2015 (FY 2014). Honda's unit sales in Japan increased steadily from 600,000 units in FY 2011 to 717,000 units in FY 2012 and 848,000 units in FY 2013. Contributors to the constant growth are the N-series of mini vehicles that were launched in December 2011 and the Fit series that were launched in September 2013. As a result, Honda today has a market share of 14.9% in Japan, including mini vehicles.
Honda is making extensive efforts to strengthen its business in Japan to increase its sales. In addition to launching new models with greater market appeal, Honda is introducing organizational changes. Honda established the regional headquarters in Japan. Honda's operations in Japan will focus on developing and spreading its cutting-edge technologies, shifting from volume production. Honda also restructured sales network by increasing "Small Stores" and "Sedan Stores." With these initiatives, Honda aspires to maintain annual production at one million units in Japan.
Related report: Honda releases medium-term strategy "The all-new Fit to be developed in six regions" (posted in December 2012)