Due to rising U.S. auto sales, and increased Asian motorcycle demand, Honda has raised its full-year net profit forecast by 6 percent. North American sales account for 42 percent of the automaker’s total sales, and in 2011 sales could rise as much as 11 percent according to J.D. Power & Associates.
“In North America, Honda is selling more profitable cars, and so the overall results look good,” said Mamoru Kato, a Nagoya, Japan-based analyst at Tokai Tokyo Research Center. “There’s been a gap in results between Honda and Toyota since the second quarter, and that seems to be getting bigger.”
CT Hartford Collision Center said that Honda has seen a dramatic increase in demand for sport-utility vehicles since the end of last year, despite the increase in gas prices. This has fueled sales of Honda’s light trucks as well as the all-new Odyssey minivan.
Although passenger cars aren’t witnessing such steep demand, the automaker is planning to introduce an updated Civic in April. For customers who need Honda Accord parts, Fredericksburg Honda is glad to assist. Honda also plans to expand its gasoline-electric hybrid lineup in the future.