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Honda CEO: No recession in U.S. auto industry

Honda CEO: No recession in U.S. auto industry

Viknesh Vijayenthiran February 27th, 2008 Viknesh Vijayenthiran By Viknesh Vijayenthiran Author February 27th, 2008
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December 31st, 1969 Honda CEO Takeo Fukui has stated unequivocally that there is no recession in the US auto industry. Just days ago Nissan CEO Carlos Ghosn told journalists in Seoul that the US automobile industry is in recession, and high material costs were a major factor. The differing opinions between Honda and Nissan may be because of the market's shift away from SUV's and gas-guzzlers to more economical and fuel efficient vehicles (of which Honda has many, compared to Nissan). This would explain Nissan's research into more fuel efficient vehicles, as we reported on earlier. According to Automotive News, Fukui admitted that sales of cars in Florida and California had been dropping but was adamant that Honda was experiencing record sales along the East Coast and Midwest and these markets aren't predicted to get smaller anytime soon. In figures, Honda's sales dropped 2.3 percent in January but when put in context of the entire auto market dropping 4.2 percent this figure is more palatable. When asked about increasing incentives programs to sell more cars in 2008, Fukui said that he didn't expect Honda to increase its incentives, stating that "its more important to offer customers good products at the appropriate price range."
Honda CEO: No recession in U.S. auto industry

Honda CEO: No recession in U.S. auto industry

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Honda CEO Takeo Fukui has stated unequivocally that there is no recession in the US auto industry. Just days ago Nissan CEO Carlos Ghosn told journalists in Seoul that the US automobile industry is in recession, and high material costs were a major factor. The differing opinions between Honda and Nissan may be because of the market's shift away from SUV's and gas-guzzlers to more economical and fuel efficient vehicles (of which Honda has many, compared to Nissan). This would explain Nissan's research into more fuel efficient vehicles, as we reported on earlier.

According to Automotive News, Fukui admitted that sales of cars in Florida and California had been dropping but was adamant that Honda was experiencing record sales along the East Coast and Midwest and these markets aren't predicted to get smaller anytime soon. In figures, Honda's sales dropped 2.3 percent in January but when put in context of the entire auto market dropping 4.2 percent this figure is more palatable. When asked about increasing incentives programs to sell more cars in 2008, Fukui said that he didn't expect Honda to increase its incentives, stating that "its more important to offer customers good products at the appropriate price range."

Tags: Industry

Posted in: Honda, News


Comments (5 total)

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  1. By Beelzebub #1, Posted: 2/27/2008

    Honda is very fortunate they have affordable autos that get good mileage (Accord, Civic, Fit, CR-V, Element) - which is where the trend is headed. Otherwise, they may be in the same gloomy state as Nissan.

  2. By ohmy #2, Posted: 2/27/2008

    not nissans fault they cant predict 10 yr down the road when honda jus kept stickin to what they do best, efficient cars....granted nissan has da more envious

  3. By Gojira #3, Posted: 2/28/2008

    Nissan seems better @ adapting (see Infiniti in recent years) whereas Honda stays the same (v8? rwd?) for better or worse.

    Honda got lucky that the HP wars appear to be ending & gas prices/economy are going the way they are. Cannot wait to see what their 2 new hybrids have to offer next year ...

  4. By sady #4, Posted: 3/12/2008

    this is beautifull and powerfull car.i like very uch.i am use this car

  5. By sady #5, Posted: 3/12/2008

    your web site is so nice.

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