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Honda in clover as trucks take a back seat
HONDA Motor Co has passed Chrysler LLC in August to grab fourth place in United States auto sales this year.
The change came as cars won market share from trucks amid an industry-wide slump, Bloomberg News reported.
Asia-based brands, led by Nissan Motor Co's 14-percent gain, raised their share of August US sales to 47.3 percent, beating General Motors Corp, Ford Motor Co and Chrysler for a fourth month, research firm Autodata Corp said on Wednesday.
While Toyota Motor Corp and Honda fell, they dropped less than the US trio.
Tokyo-based Honda may keep the No. 4 spot as a sluggish economy and fuel prices crimp demand for the light trucks that make up more than half of Chrysler's volume. Honda's 2008 US sales are up 1.7 percent, while Chrysler's are down 24 percent.
'Honda and Nissan will likely be the only big auto makers that post positive numbers in the US for the calendar year,' said Jesse Toprak, director of industry analysis for automotive research firm Edmunds.com in Santa Monica, California.
'In this kind of economy, with double-digit sales declines for the industry, any kind of gain is a good one.'
Honda shares rose 3.1 percent to 3,640 yen (US$33.63) at the close of trading in Tokyo yesterday. Toyota gained 0.4 percent to 4,870 yen, while Nissan slipped 0.8 percent to 830 yen.
US auto sales slid for a 10th straight month, pushing the industry toward its lowest annual total since the early 1990s. The 15-percent tumble included a 22-percent drop for light trucks, according to Woodcliff Lake, New Jersey-based Autodata.
Japanese and South Korean auto makers, which are more focused on cars, slid only 5.1 percent from a year earlier as they sold a combined 591,260 vehicles last month. Their US market share was 42.2 percent in August 2007.
Fit in demand
Honda, Japan's second-largest auto maker, sold 1.083 million autos in the US through August, compared with 1.076 million for Auburn Hills, Michigan-based Chrysler. Honda has increased annual US sales every year since 1994, the longest streak of any of the big auto makers. Its Fit compact also topped Japan sales last month.
Chrysler held a 352,704-unit lead in August 2007, when it was acquired by Cerberus Capital Management LP. Toyota took the No 3 spot from Chrysler in 2006, then passed Ford last year. Detroit-based GM leads in US sales.
Nissan's sales gain was its fifth this year and the only one among the six biggest auto makers in the US in August.
The change came as cars won market share from trucks amid an industry-wide slump, Bloomberg News reported.
Asia-based brands, led by Nissan Motor Co's 14-percent gain, raised their share of August US sales to 47.3 percent, beating General Motors Corp, Ford Motor Co and Chrysler for a fourth month, research firm Autodata Corp said on Wednesday.
While Toyota Motor Corp and Honda fell, they dropped less than the US trio.
Tokyo-based Honda may keep the No. 4 spot as a sluggish economy and fuel prices crimp demand for the light trucks that make up more than half of Chrysler's volume. Honda's 2008 US sales are up 1.7 percent, while Chrysler's are down 24 percent.
'Honda and Nissan will likely be the only big auto makers that post positive numbers in the US for the calendar year,' said Jesse Toprak, director of industry analysis for automotive research firm Edmunds.com in Santa Monica, California.
'In this kind of economy, with double-digit sales declines for the industry, any kind of gain is a good one.'
Honda shares rose 3.1 percent to 3,640 yen (US$33.63) at the close of trading in Tokyo yesterday. Toyota gained 0.4 percent to 4,870 yen, while Nissan slipped 0.8 percent to 830 yen.
US auto sales slid for a 10th straight month, pushing the industry toward its lowest annual total since the early 1990s. The 15-percent tumble included a 22-percent drop for light trucks, according to Woodcliff Lake, New Jersey-based Autodata.
Japanese and South Korean auto makers, which are more focused on cars, slid only 5.1 percent from a year earlier as they sold a combined 591,260 vehicles last month. Their US market share was 42.2 percent in August 2007.
Fit in demand
Honda, Japan's second-largest auto maker, sold 1.083 million autos in the US through August, compared with 1.076 million for Auburn Hills, Michigan-based Chrysler. Honda has increased annual US sales every year since 1994, the longest streak of any of the big auto makers. Its Fit compact also topped Japan sales last month.
Chrysler held a 352,704-unit lead in August 2007, when it was acquired by Cerberus Capital Management LP. Toyota took the No 3 spot from Chrysler in 2006, then passed Ford last year. Detroit-based GM leads in US sales.
Nissan's sales gain was its fifth this year and the only one among the six biggest auto makers in the US in August.
