Wednesday, May 20, 2009

Honda CEO Takeo Fukui Foresees Market Recovery This Year


More manufacturers are starting to see a brighter future on the horizon, with Honda CEO Takeo Fukui the latest to predict an end to the gloomy outlook for the global car industry.

In a recent interview with Reuters, Fukui said that he expects the international market to improve this year, with the second half of 2009 proving to be the clear turning point.


“I’m definitely expecting the second half to turn up, and on an annual basis I think this year will be the floor,” Fukui told Reuters.

Honda stood apart in 2008/2009, as the only one of Japan’s Big Three (Toyota, Honda and Nissan) to post a profit – albeit a modest one - for the fiscal year ending March 31.

Honda has forecast a massive 71 percent drop in sales this year, but, as testament to its relatively strong overall position, the company is expecting a 40 billion yen profit.

In Australia, Honda’s sales dropped 30.1 percent for April 2009 compared to the same month last year, beating out Subaru’s sales by only one unit, 3000 to 2999.

With an overall market share of 4.7 percent, Honda sits at number eight in Australia’s top brands, flanked on either side by Subaru and Mitsubishi (3145 sales).