Honda ramps-up global production
More sales means bigger revenues as Honda predicts ongoing economic recovery for the next financial quarterMaybe it is a little early to attribute it to a bucking of trends, or as an indicator that the effects of the global recession on the car industry are in an about-face, but Honda has just announced it is to "increase global production levels" to cater for better-than-forecast sales in emerging markets during July.
Honda says it needs to ramp up production levels by 90,000 vehicles to meet an eight per cent increase in demand in markets such as China, Thailand, India, Indonesia and Brazil.
A press release issued by the company says that the 3.21 million vehicle global sales estimate for July fell short of market demand and has now revised its monthly estimate to 3.295 million vehicles, with revenues expected to increase from A$496 million to $A676 million.
The company doesn't see this as a hiccup either: Honda says it "expects sales to continue to increase across these emerging markets, in light of further economic recovery predicted for the next financial quarter."
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