"Honda Motor Co.’s U.S. sales recovery accelerated in July with the market’s biggest volume gain, helping automakers stay on pace for their best year since 2007.
Honda, Japan’s third-largest carmaker, posted an increase of 45 percent, beating the 41 percent average of eight analysts’ estimates compiled by Bloomberg. Sales advanced 26 percent at Toyota Motor Corp. (7203), which like Honda saw deliveries plunge after natural disasters cut parts supplies a year ago, and 16 percent at Nissan Motor Co. Toyota and Nissan also exceeded estimates.
“It really shows how loyal Honda buyers are -- more loyal than we gave them credit for,” said Jesse Toprak, an analyst at TrueCar.com, an automotive pricing and data company in Santa Monica, California. “Not only is Honda winning back market share, they’re doing it faster than anyone expected.”
Sales of new cars and trucks, a bright spot amid a tepid U.S. economic recovery, grew 8.9 percent in July to 1.15 million units, researcher Autodata Corp. said yesterday. The improvement, buoyed by gains for Japan’s Toyota, Honda and Nissan, keeps the industry headed for annual deliveries of more than 14 million, the most in five years.
Hyundai Motor Co. (005380), among the fastest-growing brands in the U.S. during the past three years, reported a 4.1 percent sales increase, while affiliate Kia Motors Corp. (000270)’s rose 5.6 percent. The combined 4.8 percent gain for the two, which operate separately, beat six analysts’ average estimate of a 0.9 percent increase."
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