Honda Hikes Exports to Offset Slumping Sales in Japan

Honda Motor Co. is likely to double exports from Japan to about 160,000 units in the fiscal year beginning April 1, according to The Nikkei, which cites no sources.

When Honda began building production facilities in other markets, its exports plummeted from about 700,000 units in fiscal 2007 to only 30,000 vehicles in fiscal 2014. The company isn't changing its foreign production strategy, the newspaper says, but it is temporarily and selectively increasing exports to help offset slower domestic sales.

Honda reported last month that its sales in Japan, including minicars, fell 14% to 726,900 units in calendar 2015. The company’s exports more than doubled to 67,500 units over the same period.

Honda will begin supplying hybrid Accord sedans to North America from its Saitama factory beginning in May, according to The Nikkei. It says the company also will produce several models for Europe at its factory in Yorii.