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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.
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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.
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