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Auto Sector Sees Strong Start But Forecasts Weaker Second Half
RHB Investment Bank (RHB), in its 1Q24 Report Card today (2 July, Tuesday), stated that the auto sector's performance largely missed expectations, with two counters underperforming, one in line, and one surpassing projections.
Japan's domestic new car sales volume decreased by 13% year-on-year in the first half of the year.
On July 1st, Gelunhui - The Japan Automobile Sales Association and the National Association of Light Vehicles of Japan released data that showed that from January to June 2024, the preliminary statistics for new car sales in Japan totaled 2,127,490 vehicles, a decrease of 13% year-on-year, due to the impact of some vehicle models being suspended from shipment due to fraudulent certification applications by multiple Japanese automakers. The preliminary statistics for new sales of small-displacement cars were 729,839 vehicles, a decrease of 18% year-on-year, and the sales of new small-displacement cars reached its lowest level in 13 years.
US NHTSA Opens Recall Query Into More Than 120,000 Honda US Vehicles
The Most American-made Cars Include Toyota and Honda Models
Japan's Ministry of Land, Infrastructure, Transport and Tourism has lifted the ban on some automakers' shipments.
On June 28, Gelunhui reported that Japan's Ministry of Land, Infrastructure, Transport and Tourism lifted the ban on the shipment of two Mazda models and one Yamaha engine model. Since June 5, the Ministry has conducted on-site inspections of Mazda, Yamaha Engines, Honda and Suzuki, and finally found no new improper behavior.
Honda Motor's May Global Production Falls
Honda Motor (HMC) said Thursday it produced 304,423 vehicles in May, down from 329,066 units a year earlier. This represents the first year-over-year decrease in two months, the Japanese automaker sai