Honda's strategy to expand in Asia by developing cars for local markets

Aiming to sell 1.3 million units in China by 2015; 1.2 million in rest of Asia in 2016

2014/05/27

Summary

Honda's Light Vehicle Sales Forecast in five major countries  This report outlines business strategy of Honda Motor Co., Ltd. to expand its presence in Asian markets. In the fiscal year to end in March 2017, Honda plans to sell 6 million units worldwide, of which 3 million units are slated to be sold in emerging markets. The following is the breakdown of the 3 million units: 1.3 million units in China by the end of 2015, and 1.2 million units in the rest of Asia/Pacific by the end of FY2016.
 During FY2014, the company plans to sell 1.86 million units in emerging markets. However, based on its aggressive sales plans, the company is aiming to rapidly increase sales in these markets within three years by expanding its production capacity. In order to increase its unit sales as planned in emerging markets, Honda is significantly advancing the localization of R&D activities. In addition, Honda is developing models that reflect local-market needs, and is increasing the local content ratio. The company hopes to reduce costs and to offer customers affordably priced low-cost vehicles.
 It should be noted, however, the LMC Automotive has forecast that Honda will sell 4.89 million units worldwide in 52 countries in 2017, selling 980,000 in China, 290,000 in India, and 200,000 in Thailand.        


Related reports:
Honda expects sales of 1.03 million in Japan in FY 2014 (posted in May 2014)
Honda: Plans rapid sales expansion in emerging countries (posted in September 2013)




Honda's global unit sales plans: to sell 1.59 million units in Asia for FY 2014

Honda's sales plan in emerging and mature markets Honda forecasts that its FY2014 unit sales (on a wholesale basis) will grow 11.7% year-over-year to 4.83 million units. By region, it targets selling 1.59 million units in Asia alone (including China), which will be a 23.6% year-over-year(y/y) increase. Of the 1.86 million units the company plans to sell worldwide in emerging markets, 85.5% will be sold in Asia.


Honda Group unit sales breakdown by region

(in thousands of units)
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014
Outlook
FY2016
Plan
Japan 646 582 588 692 818 990 3,000
North America 1,297 1,458 1,323 1,731 1,757 1,810
Europe 249 198 158 171 169 170
Mature markets total 2,192 2,238 2,069 2,594 2,744 2,970
Asia 950 1,008 837 1,122 1,286 1,590 3,000
Others 250 266 202 298 293 270
Emerging markets total 1,200 1,274 1,039 1,420 1,579 1,860
Ratio of emerging market total in worldwide total 35.4% 36.3% 33.4% 35.4% 36.5% 38.5% 50.0%
Worldwide total 3,392 3,512 3,108 4,014 4,323 4,830 6,000
Source: Honda's consolidated financial results
(Notes) 1. "Honda Group unit sales" means all the complete vehicle units sold by Honda, its consolidated subsidiaries, and companies that are its subsidiaries based on the equity method of accounting. Based on this, units sold by its affiliates in China are included.
2. Honda's FY2016 sales plan was released by its president at a press conference in September 2012.

 

 



Aiming to achieve Asian production capacity at 1.97 million units in 2015

 Honda’s annual production capacity within the Asian region (including China) will grow to 1.97 million units in and after 2015. Honda plan to increase 570,000 units compared with 1.4 million units in 2013. This figure includes 120,000 units that are scheduled to be produced at its new plant in Thailand. In addition, Honda plans to increase its production capacity in China by 240,000 units.

Production capacity plans in major emerging countries

Country Before Capacity
Increase (2013)
After Capacity Increase
Thailand 280,000 2014 300,000 After 2015 420,000
Indonesia 80,000 Jan. 2014 200,000 -
Malaysia 50,000 Jan. 2014 100,000 -
India 120,000 Feb. 2014 240,000 -
China 870,000 - 2015 1,010,000
Asia total 1,400,000 2014 1,710,000 After 2015 1,970,000
Brazil 120,000 - 2015 240,000
Total 1,520,000 2014 1,830,000 After 2015 2,210,000
(Notes) 1. In Thailand, the company is building a plant with an annual production capacity of 120,000 units. The plant was scheduled to launch operations in April 2015. However, due to sluggish demand in the country, its operations are postponed for at least by six months.
2-1. Total capacity in China includes 50,000 units of export-only plant of Honda Automobile (China).
2-2. In China, the company plans to further increase its annual production capacity by 240,000 units, which will bring the total annual production capacity to 1.25 million in the country.

 

 



To boost R&D capacities and develop market-specific models in three Asian countries

 In FY2016, Honda has plans to sell a total of 1.2 million units in Asia and Oceania (excluding China) and is aiming to sell 300,000 units each in Thailand, Indonesia, and India.  The company is also boosting its R&D capabilities in the three countries, especially in Thailand. Honda in Thailand was mostly responsible for designing the Amaze sedan and the Mobilio MPV, both of which were developed based on the Brio.

 Honda is also focused on launching vehicles designed to meet specific market needs in the three countries. For example, in Indonesia it is launching a vehicle compliant with the LCGC (Low Cost Green Car) Program, and a minivan. In India, where Honda has launched sales of a diesel-engine vehicle, sales quickly skyrocketed, increasing 83% between April 2013 and March 2014.

 

City Mobilio
City: It was released for sale on January 2014 in India and Thailand. It is based on the new Fit. Mobilio MPV: production was launched in Indonesia in January 2014. (Its prototype debuted at the Indonesia Motor Show in September 2013)

 

Boosting local R&D capacities in Thailand, Indonesia, and India

To increase R&D workforce to 800  The company is planning to double its combined R&D workforce in Thailand, Indonesia, and India to 800 individuals by FY2016, from the number in early 2014. By country, Thailand will have 400; India will have 300; and Indonesia, 100. The three R&D bases in Asia are in charge of developing vehicles specifically designed for Asian markets. The R&D bases will be one of Honda’s global R&D bases after Japan base with the roughly 10,000 R&D engineers as well as USA base with 1,000 engineers.
To develop the Fit and Brio model lineup   While Honda is planning to sell 1.2 million units in Asia in FY2016, more than half of all of its sales will depend on mainly two model lineup, the Brio and the Fit. The Fit series accounts for roughly half of the 1.2 million units. When combining sales of the Fit series with those of the Brio lineup, Honda will end up relying on more than 60% of all its sales to be generated by these two series. The company plans to launch market-specific vehicles that are designed based on the local needs of each country. R&D base in Thailand is mainly in charge of developing these vehicles.
Increasing local content and reducing costs  All of the variants in the current Fit series are rather high priced because of the high costs associated with building the vehicle. The company is simultaneously launching sales of a Fit model in six regions, which was fully redesigned and launched in Japan in 2013. Since all of the six regions worked with local suppliers in their own areas, right from the design stage, they have been able to increase the local content. Honda aims to further reduce costs or at least improve features on the vehicles to justify the prices.

Source: Honda India's press release Jan. 7, Nihon Keizai Newspaper Feb. 10, 2014, Nikkan kogyo Newspaper Nov. 18, 2013.

 

Vehicle launches in Thailand, Indonesia, and India

Model Thailand Indonesia India
Brio
(hatchback)
Launched in May 2011 Launched in August 2012 Launched in Sep. 2011
1200cc engine; approved as a vehicle compliant with Thailand's Eco-car Program 1300cc engine; Imported from Thailand; currently on sale in the market 1200cc engine; built locally
Brio Satya
(hatchback)
Launched in Nov. 2013
1200cc engine;Compliant with Indonesia's LCGC (Low cost green car)
Program; built locally; local content ratio of 85%
Amaze
(sedan based on Brio)
Launched in Nov. 2012 Launched in  Apr.2013
1200cc engine;Launched as the Brio Amaze;  compliant with Thailand's Eco-car Program 1500c gasoline or diesel engine; diesel engine model is a first for Honda Cars India   
Mobilio MPV based on Brio Scheduled for launch in 2014 or 2015 Launched in Jan. 2014 To be launched by Sep. 2014
1500cc engine; built at newly-constructed second plant; local content ratio of 86%
New City
(sedan based on new Fit)
Launched in Jan. 2014 Launched in Jan.2014
1500cc engine; best-selling model at Thai Honda, sales over 70,000 units both in 2012 and 2013 1500c gasoline or 1500cc diesel engine; The diesel model will be Honda’s second diesel model sold in India.                  

New Fit To be launched by Mar. 2015
Designed to be 20-30% lower in price than current models

 

 



Plans for Thailand, Indonesia, and India

 

Thailand: lower sales are predicted in 2014; Honda plans to sell 300,000 units in FY2016

 Automotive sales in Thailand have been sluggish ever since the government's sales incentive program ended in 2012 and the unstable political situation erupted. Honda announced in July 2013 that it would construct a new plant in Thailand, which was initially scheduled to go online in April 2015. However, this schedule has been delayed at least by six months.

 Honda's sales of passenger cars in Thailand in 2013 grew to 213,155 units, surpassing the 171,208 units the company sold in 2012. As a result, Honda gained a 32.4% share of the passenger-car market, earning the top postition for the first time by exceeding Toyota's market share. Honda predicts that overall automotive demand in Thailand for all OEMs in 2014 will shrink from the 1.33 million units sold in 2013, to 1.13 million in 2014. The company's own unit sales are forecast to be 50,000 units lower y/y to a range of around 160,000. Nevertheless, Honda predicts that for the foreseeable mid-term, automotive demand in Thailand will grow, and it will continue forging ahead with its plan to sell 300,000 units in the country in FY2016.

Enhancing R&D capabilities in Thailand

Developing the Amaze and Brio MPV Versions  Honda R&D Asia Pacific, its R&D function in Thailand, designed the Brio Amaze sedan based on the Brio. The Amaze that is being sold in India was also designed mainly in Thailand. In addition, the Mobilio, an MPV that the company started to build in Indonesia in January 2014, was jointly developed by engineers in Thailand and Indonesia.
Transferring some of the design functions for the Brio to Thailand  Honda is enhancing the capabilities of its R&D center in Thailand by transferring some R&D activities from Japan to its R&D center in Thailand for the next-generation Brio, its vehicle strategically designed for Asian markets. Specifically, Honda R&D Asia Pacific in Thailand will be in charge of the vehicle design, the designs for parts, and parts purchasing. Its R&D center in Japan will still be in charge of the basic design such as the platform architecture. The company aims to finely incorporate local needs into the vehicle and also to reduce costs by increasing local content.

Source: Nihon Keizai Newspaper Feb. 10, 2014, Nikkan Kogyo Newspaper Nov. 18, 2013.

Honda achieves top share in passenger-car market in 2013 (32.4% share)
Top share in the passenger-car market in 2013 According to an announcement released by Thai Honda, in 2013 the company sold 213,155 passenger cars in Thailand, a 24.5% y/y increase. As a result, Honda achieved the top share in the passenger-car market, surpassing Toyota for the first time. When sales of commercial vehicles are included, the total number of units sold by all OEMs in Thailand in 2013 reached 1,323,857. Honda’s share in the total automotive market was 16.1%, which propelled the company to the number two position for the first time.

 

Indonesia: Honda launches the LCGC compliant Brio Satya, and the Mobilio MPV

 The Indonesian automotive market has been dominated by minivans such as the Toyota Avanza. However, ever since the Indonesian government launched its Low Cost Green Car (LCGC) Program in September 2013, sales of compact sedans and hatchbacks also have increased. Honda itself launched the Brio Satya, which meets the standards set under the LCGC Program.

 Honda's second plant in the country, capable of building 120,000 units annually, launched operations in January 2014. The plant began building the 7-seater Mobilio, which is based on the Brio platform. With the Mobilio, Honda will enter the MPV market, which accounts for the majority of vehicles on the road in Indonesia.

Honda predicts that new-car sales in 2014 for the entire Indonesian automotive market will reach 1.22 million units. Its sales in Indonesia will surpass the number of units predicted to be sold in 2014 in Thailand, which has experienced political unrest. As a result, this will enable Indonesia to once again reign as the largest automotive market in the ASEAN Region, as it did in 2011. Honda plans to expand the sales volume of its own vehicles in Indonesia, aiming to sell 300,000 units in FY2016, which is a significant higher number compared to the 98,000 units it sold in FY2013.

 

India: Sales of Amaze and City contributed to the 134,000 units in total sold during FY2013, increasing 82.8 % y/y

 Honda released its 1500cc diesel-engine Amaze in April 2013, which became the first diesel-engine vehicle ever launched by Honda in India. Then, in January 2014, Honda launched a new version City, its second endeavor into the diesel-engine market in India. Both of these vehicles significantly contributed to the 82.8% increase in unit sales recorded in the country between April 2013 and March 2014, which was a total of 134,339 units. By model, the sales breakdown of the total was 77,711 units of the Amaze for the entire year, and 30,959 units of the new-model City between January and March 2014. These two models totaled 108,670 units, which accounted for 80.9% of all Honda’s sales in India in FY2013. 

 The company plans to release its Mobilio MPV by September 2014 and a new-version Fit by March 2015. In 2016, the company predicts it will sell 300,000 units in India.

 India is a unique market compared to other countries in Asia such as Thailand, in that automobile sticker prices in the country are 20-30% lower on average than those in other Asian countries. Honda will reduce the cost of its new-version Fit by 20 to 30% than that of its current model. It also plans to develop a car priced at INR 300,000, which will be designed to compete with Maruti 800.

 

India: Honda enhancing R&D capacities and developing a new model vehicle priced at INR 300,000

To Enhance R&D capacities  In the near future, Honda will increase its R&D workforce in India from the current 100 engineers, to 300. It is working on global vehicles designed to be sold worldwide, fine-tuning the features for India to ensure that the vehicles reflect local tastes and preferences. In addition, Honda is advancing its strategy to use more locally manufactured parts, so that the local content ratio all of its vehicle models will exceed 90%.
100% of equipment & facilities at Plant 2 procured locally   All of the equipment and facilities for the assembly lines* at Honda’s Plant 2 in India were purchased locally from facility manufacturers operating in India. It should be noted that it is easier to raise the local-content of assembly lines compared to other production lines such as paint lines. As a result, based on plans for reducing production costs of the new-version Fit by 20-30%, Honda is expecting to reduce the sticker price by further advancing local procurement and reducing costs for facilities and equipment. (From an October 30, 2013 news article in the Nihon Keizai Newspaper) *Specifically, the facilities for mounting engines and tires; and jigs.
To develop an INR 300,000 vehicle  In general, automotive sticker prices in India are 30% lower compared to prices in other countries in Asia such as Thailand. Honda is further advancing its efforts to reduce costs year by year. For example, the current costs of the Brio are 40% lower than they were when Honda first launched the vehicle in 2011. This has enabled the company to earn a reasonable margin of profit.
 Some of the ultra-low-priced vehicles being sold in India include Tata Motors' Nano, with prices starting at INR 141,200; and Maruti 800, with prices starting at INR 205,768. In the future, Honda will develop a vehicle that it plans to price at INR 300,000, which will enable the company to compete in the low-priced-vehicle market.

 

 



Plans to sell 1.3 million units in China in 2015

 Honda's sales in China for 2013 reached a new record high, 757,000 units for the year, which was a significant increase over the 599,000 units the company sold in 2012. The company is forecasting that it will sell 900,000 units in 2014, as it forges ahead with plans to further localize and expand operations in the country. The company is enhancing the local R&D capabilities, parts purchasing activities, and production operations that will be needed to reach the sales volume that it has targeted for 2015, which is 1.3 million units. The company even has plans to build a hybrid vehicle locally in China, aiming to launch production sometime around 2016.

 During the three-year period between 2013 and 2015, Honda has plans to launch 12 vehicle models that are either new to the market or ones that have undergone complete redesign. Among these are five models that will be marketed exclusively in China, with two of these, the Crider and Jade, locally developed in the country.

 

Crider Jade
Crider: locally developed by Honda's R&D center in China; receiving rave reviews from customers Jade: locally developed minivan being sold exclusively in China
Concept B VEZEL
Concept B: world premiere at the Beijing Motor Show 2014. (The Emblem hybrid also can be seen in the photo.) VEZEL: Mid-class SUV schedule to be built and launched in the latter part of 2014

 

China: Strengthening R&D capabilities; developing hybrid locally

Date of Announcement Topic Summary
June 2013 To create a fully functioning R&D organization in China  Honda has been advancing its efforts to develop vehicles locally in China. The company is now working to finally build its R&D structure in China to the point that all R&D activities can be conducted within China, such as design, engineering, and road-testing. The company has been developing new-model vehicles in China, but its overall plan is to establish R&D operations that are capable of not only building completed vehicles locally but also capable of developing powertrains as well.
Concept B including hybrid version being locally developed  Honda is building its operations in China to the extent where it will be able to locally develop, build, and procure parts for hybrid vehicles that can be sold at more affordable prices. It plans to begin building a hybrid vehicle sometime within three years.
 At the Beijing Motor Show 2014 that was held in April, Honda debuted its Concept B, a 5-door concept hatchback that was mainly developed by its R&D staff in China. The company plans to launch a mass-market car in 2016 based on the Concept B, with a hybrid version.
November 2013 Establishing R&D subsidiary  Honda spun off the R&D function at its local subsidiary Honda Motor (China) Investment Co., Ltd. based in Beijing and turned it into a new subsidiary called "Honda Motor China Technology Co., Ltd.", which is headquartered in Guangzhou, Guangdong Province. Work started with a staff of 366 at the company, which launched operations in January 2014. In January 2016, the company will relocate to new facilities being built in Guangzhou.
 The R&D subsidiary, which mainly is engaged in conducting R&D, purchasing planning, and production planning activities for Honda vehicles being built in China, is working to further localize R&D activities by creating innovative ideas that it can present to local parts suppliers so as to enable them to produce inexpensive parts.

Vehicle models exclusive to the Chinese market

Month/Year Developed Model Summary
June 2013 Crider  Honda's Crider became the first sedan that was developed exclusively by Chinese Engineers. The company's R&D center in China was mainly in charge of developing the Crider with an 1800cc engine and its price at CNY 114,800. The Crider has been a popular vehicle enjoying robust sales of more than 10,000 units almost every month since it was launched in June 2013. Initially, only Guangqi Honda Automobile Co., Ltd.'s Huangpu Plant was building the Crider, but since spring of 2014 the Zengcheng Plant has also started to build the vehicle.
August 2013 Jade  Since August 2013, Dongfeng Honda Automobile Co., Ltd. has been selling the Jade minivan that was developed in China. The Jade is 4660mm long and has an 1800cc engine. Sales of the vehicle are strong, as a total of 27,436 units were sold over the five-month period from August through December 2013.

 

 



Sales Forecast by LMC Automotive: Honda Group sales forecast in 52 major countries through 2017

(LMC Automotive, Quarter 1, 2014)

 LMC Automotive forecasts that Honda Group's light vehicles sales in 52 major countries will be 4,419,725 units in 2014, up 7.0% from 2013, and 4,887,664 units in 2017, up 18.3% also from 2013. Sales in the US, the largest market for Honda, increased to 1,525,310 in 2013, up by 33.0% from 2011 with a strong recovery of the US market. However, sales in the US in 2017 will be 1,586,927 units, up by only just 4.0% from 2013.

 The company anticipates demand in China and India to grow significantly, reaching 983,290 units and 292,932 units in 2017, respectively.

 In Japan Honda has been rolling out N-Series Mini cars since the end of 2011, helping 2012 sales jump by 49% from the previous year. Honda's sales in Japan will reach 899,556 units in 2014, Honda's peak year of sales in Japan in 2011-2017. But LMC Automotive anticipates, like other Japanese carmakers, a slowdown for Honda in Japan. Sales in Japan in 2017 will be 749,790 units, less by 150,000 units from 2014.

 

Honda's light vehicle sales forecast by country in 52 major countries

Country 2011 2012 2013 2014 2015 2016 2017
52 Countries Total 3,011,371 3,738,780 4,130,335 4,419,725 4,539,352 4,613,174 4,887,664
USA
  Honda
  Acura
1,147,280
1,023,981
123,299
1,422,785
1,266,569
156,216
1,525,310
1,359,874
165,436
1,501,664
1,338,258
163,406
1,546,858
1,375,114
171,744
1,548,236
1,375,781
172,455
1,586,927
1,409,530
177,397
Japan
  Honda
503,435
503,435
749,406
749,406
718,378
718,378
899,556
899,556
749,204
749,204
665,183
665,183
749,790
749,790
China
  Honda
  Acura
621,418
617,431
3,987
591,431
589,025
2,406
755,895
752,562
3,333
814,619
808,713
5,906
880,081
873,288
6,793
944,285
936,544
7,741
983,290
974,495
8,795
India
  Honda
47,947
47,947
73,081
73,081
107,661
107,661
163,585
163,585
204,770
204,770
248,023
248,023
292,932
292,932
Thailand
  Honda
83,952
83,952
172,700
172,700
213,164
213,164
155,616
155,616
170,359
170,359
189,594
189,594
196,990
196,990
Canada
  Honda
  Acura
118,215
102,943
15,272
148,712
131,558
17,154
164,236
145,231
19,005
155,346
137,920
17,426
158,476
141,900
16,576
159,856
142,972
16,884
165,449
148,375
17,074
Indonesia
  Honda
45,416
45,416
69,186
69,186
91,694
91,694
150,179
150,179
163,991
163,991
163,126
163,126
175,981
175,981
Brazil
  Honda
92,871
92,871
134,954
134,954
139,275
139,275
148,343
148,343
178,223
178,223
191,672
191,672
194,349
194,349
Mexico
  Honda
  Acura
36,188
34,426
1,762
54,487
52,351
2,136
60,951
58,381
2,570
65,588
62,522
3,066
72,708
69,103
3,605
76,317
72,694
3,623
86,863
82,994
3,869
Malaysia
  Honda
32,480
32,480
34,949
34,949
51,544
51,544
63,782
63,782
77,740
77,740
85,548
85,548
97,732
97,732
UK
  Honda
50,577
50,577
54,208
54,208
55,660
55,660
48,821
48,821
54,156
54,156
43,226
43,226
36,987
36,987
Australia
  Honda
30,106
30,106
35,789
35,789
39,258
39,258
43,562
43,562
47,087
47,087
48,274
48,274
50,319
50,319
Germany
  Honda
29,473
29,473
26,279
26,279
22,858
22,858
27,955
27,955
29,072
29,072
25,285
25,285
24,795
24,795
Taiwan
  Honda
20,086
20,086
18,650
18,650
25,392
25,392
27,340
27,340
30,415
30,415
32,614
32,614
34,091
34,091
Russia
  Honda
  Acura
19,101
19,101
0
21,512
21,512
0
25,798
25,741
57
22,638
20,521
2,117
34,558
30,178
4,380
43,109
38,375
4,734
46,541
42,504
4,037
Turkey
  Honda
13,309
13,309
16,516
16,516
15,415
15,415
17,937
17,937
14,138
14,138
18,037
18,037
25,145
25,145
Philippines
  Honda
11,611
11,611
12,653
12,653
13,349
13,349
14,321
14,321
14,382
14,382
15,988
15,988
16,922
16,922
Argentina
  Honda
17,495
17,495
16,126
16,126
12,143
12,143
12,365
12,365
16,389
16,389
20,558
20,558
19,563
19,563
South Africa
  Honda
7,894
7,894
9,093
9,093
12,904
12,904
8,932
8,932
12,725
12,725
12,720
12,720
13,827
13,827
Poland
  Honda
6,789
6,789
6,896
6,896
6,433
6,433
7,987
7,987
7,862
7,862
8,066
8,066
9,500
9,500
Korea
  Honda
3,128
3,128
3,944
3,944
4,856
4,856
7,780
7,780
8,163
8,163
7,773
7,773
8,923
8,923
Italy
  Honda
8,920
8,920
5,314
5,314
4,362
4,362
7,114
7,114
9,579
9,579
9,272
9,272
9,437
9,437
France
  Honda
8,810
8,810
8,413
8,413
8,876
8,876
7,079
7,079
7,863
7,863
7,272
7,272
7,653
7,653
Spain
  Honda
8,221
8,221
5,914
5,914
6,702
6,702
5,391
5,391
5,353
5,353
5,314
5,314
5,769
5,769
Switzerland
  Honda
5,799
5,799
5,512
5,512
5,604
5,604
4,770
4,770
5,045
5,045
4,351
4,351
4,403
4,403
Chile
  Honda
2,617
2,617
3,038
3,038
3,404
3,404
4,108
4,108
4,527
4,527
4,606
4,606
4,724
4,724
Netherlands
  Honda
4,899
4,899
2,967
2,967
2,002
2,002
3,219
3,219
3,549
3,549
3,365
3,365
3,330
3,330
Colombia
  Honda
1,716
1,716
2,670
2,670
2,948
2,948
2,875
2,875
2,991
2,991
3,253
3,253
3,444
3,444
Ukraine
  Honda
  Acura
3,194
3,161
33
3,787
3,760
27
3,524
3,505
19
2,686
2,609
77
2,753
2,662
91
3,142
3,068
74
3,877
3,833
44
Norway
  Honda
2,008
2,008
1,897
1,897
2,650
2,650
2,512
2,512
2,577
2,577
2,372
2,372
2,452
2,452
Peru
  Honda
1,435
1,435
1,829
1,829
2,289
2,289
2,374
2,374
2,719
2,719
2,988
2,988
3,300
3,300
Austria
  Honda
2,287
2,287
2,199
2,199
2,153
2,153
2,356
2,356
2,518
2,518
2,179
2,179
2,110
2,110
Belgium
  Honda
3,334
3,334
2,439
2,439
2,850
2,850
2,206
2,206
2,537
2,537
2,222
2,222
2,213
2,213
Sweden
  Honda
3,377
3,377
3,113
3,113
3,632
3,632
2,202
2,202
2,360
2,360
2,132
2,132
2,365
2,365
Finland
  Honda
3,293
3,293
3,140
3,140
2,910
2,910
2,163
2,163
2,132
2,132
2,178
2,178
2,593
2,593
Portugal
  Honda
1,827
1,827
1,487
1,487
1,718
1,718
1,447
1,447
1,679
1,679
1,616
1,616
1,881
1,881
Czech Republic
  Honda
1,575
1,575
1,680
1,680
1,859
1,859
1,278
1,278
1,226
1,226
1,091
1,091
1,278
1,278
Denmark
  Honda
1,719
1,719
2,129
2,129
1,787
1,787
1,116
1,116
1,136
1,136
991
991
1,115
1,115
Estonia
  Honda
948
948
1,231
1,231
1,517
1,517
1,003
1,003
1,006
1,006
978
978
1,209
1,209
Hungary
  Honda
1,092
1,092
1,065
1,065
1,053
1,053
967
967
1,049
1,049
1,010
1,010
1,238
1,238
Ireland
  Honda
993
993
1,102
1,102
1,003
1,003
711
711
815
815
773
773
885
885
Greece
  Honda
1,156
1,156
644
644
614
614
687
687
795
795
818
818
1,135
1,135
Uruguay
  Honda
272
272
527
527
594
594
623
623
747
747
743
743
726
726
Slovakia
  Honda
792
792
1,100
1,100
1,164
1,164
503
503
485
485
434
434
559
559
Luxembourg
  Honda
568
568
695
695
616
616
498
498
496
496
447
447
462
462
Kazakhstan
  Honda
0
0
81
81
497
497
486
486
559
559
631
631
722
722
Slovenia
  Honda
487
487
302
302
413
413
381
381
382
382
342
342
372
372
Lithuania
  Honda
257
257
214
214
319
319
341
341
361
361
370
370
454
454
Romania
  Honda
646
646
553
553
503
503
293
293
295
295
308
308
418
418
Latvia
  Honda
196
196
191
191
317
317
269
269
311
311
333
333
431
431
Bulgaria
  Honda
120
120
174
174
247
247
147
147
146
146
148
148
188
188
Ecuador
  Honda
42
42
16
16
34
34
4
4
4
4
5
5
5
5
Source: LMC Automotive "Global Automotive Sales Forecast"(1st Quarter 2014)
(Notes) 1. Data indicate figures of only small-size vehicles, including passenger cars and light commercial vehicles with a gross vehicle weight of under 6 tons.
2. All rights reserved. Reproduction of any data will require permission of LMC Automotive.
3. For more detailed information or inquiries of forecast data, please contact LMC Automotive.

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