Mexican Media Brands
VW Could Be Biggest Threat to Honda in U.S.
Honda Motor Co. regards Volkswagen AG as potentially its toughest competitor in the American car market, Bloomberg News reports.
#economics
Share
Honda Motor Co. regards Volkswagen AG as potentially its toughest competitor in the American car market, Bloomberg News reports.
President Takanobu Ito tells the news service he expects VW to figure out how to adapt its cars to U.S. tastes and requirements, which would make the German company a formidable rival.
Ito says the U.S., which accounted for nearly half of Honda's revenue and 96% of its operating profit in the fiscal year that ended March 31, will remain the company's most important market.
Honda still trails Toyota Motor Corp. in American sales, and both lag the country's domestic automakers. But VW aims to surpass Toyota to become the world's top-selling carmaker by 2016. The German company's goal includes significantly boosting its 4% share of the U.S. market.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.