Honda's August U.S. Sales Jump 60% on Gains in Both Divisions
1:13 PM ET 9/4/12 | Dow Jones By Nathalie Tadena
Honda Motor Co.'s (HMC, 7267.TO) U.S. vehicle sales climbed 60% in August as the Japanese auto maker reported strong demand in both its namesake and Acura divisions.
However, results fell shy of expectations from car-shopping website Edmunds.com, which had predicted Honda to record a 61% jump in sales. Broadly, Edmunds estimates U.S. new-auto sales for August to climb 20% from a year.
Honda reported it sold 131,321 vehicles in August, up from 82,321 last year and 12% above July's total. Car sales increased 78% while truck sales jumped 42%.
Honda division sales--which include the Fit, Accord, Odyssey and Pilot--were up 58%. The much-smaller Acura luxury division's sales were up 73%.
Accord sales increased 89% while Civic sales more than doubled. CR-V sales rose 44% and Odyssey sales improved 61%. In the Acura division, RDX sales more than doubled to set its fourth-consecutive record sales month.
"It's clear that demand for Honda products continues to be strong, and we're on track to post our best yearly sales results in four years," said John Mendel, American Honda executive vice president of sales.
August had 27 selling days, while the year-ago month had 26.
Japanese auto makers' results were hurt last year after a March 2011 earthquake and tsunami disrupted production and squeezed parts supplies. However, Honda reported in July its fiscal first-quarter profit surged more than fourfold, as sharp sales growth in the U.S. and Japan and fully restored production after disasters last year offset the yen's strength.
Earlier Tuesday, Chrysler Group LLC reported its U.S. auto sales were up 14% as the company reported broad growth across its brands. Ford Motor Co. (F) and General Motors Co. (GM) posted sales gains of 13% and 10%, respectively. Fellow Japanese auto maker Toyota Motor Corp. (TM, 7203.TO) saw U.S. auto sales climbed 46% in August, while Nissan Motor Co. (NSANY, 7201.TO) reported a 7.6% sales increase.
American depositary shares were off 1.2% to $31.51 in recent trading. The stock is up 3.2% over the past three months.
Write to Nathalie Tadena at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
> Dow Jones Newswires
September 04, 2012 13:13 ET (17:13 GMT)
Copyright (c) 2012 Dow Jones & Company, Inc.