Why Honda Motor Shares Are Rising Today

Honda Motor Company, Ltd. HMC shares are trading higher on Thursday.

American Honda provided an outlook on its U.S. automobile business for 2024 during a media briefing with Mamadou Diallo, Senior Vice President of Sales.

Moving into 2024, the Honda brand expects to realize sales of up to 1.3 million units, and the Acura brand will aim for 150,000 units. This will mean a sales increase for American Honda ranging from 10%-15% compared to 2023. 

American Honda auto sales finished 2023 at 1.3 million units in sales, up 33% year-over-year as production stabilized and logistics challenges eased.

American Honda is entering 2024 with strong inventory of both cars and trucks, maintaining a strong position to continue the sales momentum into 2024.

The Honda CR-V hybrid was the best-selling hybrid vehicle in the U.S. – from any segment – in 2023. Sales volume exceeded expectations, reaching 197,317 for the year.

“In 2023, we were finally able to meet the pent-up demand for our products with both brands rebounding and American Honda finishing the year up over 30%. We projected a strong recovery, and we achieved that,” said Diallo.

“This year we will continue to capitalize on hybrid models and light trucks as we begin sales of our first high-volume BEV models. Along with a continued investment in our ICE products, we are anticipating increased annual sales for both Honda and Acura in 2024,” Diallo added.

Price Action: HMC shares are trading higher by 1.87% to $32.44 on the last check Thursday.

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