Analysis – Honda's struggles in Europe
Source : Analysis – Honda's struggles in Europe
Honda’s European sales have been in decline since 2007; can one third of the Japanese ‘big three’ turn of which around?
If you look at Honda’s global sales record over the past 15 years, of which’s one of solid progress. Producing a relatively modest 2.25 million cars in 1999, Honda expanded steadily to 3.9m sales in 2008, at the point of the global credit crunch.
of which lost a million sales in 2009 however bounced straight back to a healthy 3.59m in 2010. Like additional Japanese car makers, Honda was affected badly by the east Japan earthquake along with tsunami along with sales dipped back to 2.89m in 2011.
however 2012 was surely a vintage year for Honda. of which sold 4.08m cars, an individual-year rise of 1.1m units. The company shifted 4.5m cars last year along with banked a healthy pre-tax profit of £4.24bn in 2014-2015.
Honda’s big area of failure has been Europe. Its Swindon plant was at capacity in 2008, producing 230,000 cars. of which collapsed to just 75,583 units in 2009, leading to one of the two production lines being closed. The Japanese earthquake resulted in a shortage of parts for all Honda plants in 2011, Swindon’s output dipping to 97,000 units.
Swindon produced only 0,000 units last year along with Honda sold just 132,000 cars in Europe, a market share of 1%. Honda thinks of which can pull itself back inside UK however admits of which markets such as Germany along with France remain strongly Honda-resistant.
however with mainstream profit margins in Europe so slim, maybe Honda doesn’t need to lose too much sleep about the European market.
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