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Honda sees some U.S. auto sales recovery by summer

Posted Friday, Apr 24, 2009, 1:09 pm in Employee News

Honda Motor Co. expects to see some recovery in U.S. auto sales by summer and expects its own inventory levels to normalize by June, the company’s CEO said on Thursday, Reuters reported.

CEO Takeo Fukui said Honda’s own U.S. sales were stable so far this month compared with the levels of recent months, broadly in line with industry-wide results, Reuters said. Earlier on Thursday, market-tracking service J.D. Power & Associates said its own data from dealerships showed April U.S. auto sales for the first 16 days of April were down about 33 percent from a year earlier but steady compared with February and March sales rates.

According to Reuters, Fukui said Honda’s efforts to slow production and reduce inventories were expected to bring the stock of unsold vehicles back down to near 60 days of sales by June. As of April 1, Honda listed an inventory of 326,000 vehicles in the U.S., a 92-day supply. A month earlier, Honda had 109 days of inventory, the new service said. (Reuters/Automotive News)
 
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