Honda says that demand for light trucks in the U.S. will boost its sales 10% in the fiscal year beginning April 1, 2011. North America has been Honda's only bright spot lately, with sales increasing 6% while its home country Japanese sales fell as well as Europe and Australian sales. Demand for the Odyssey and CR-V has helped Honda to stay and continue to grow their business in the past few months. According to Honda's Executive Vice President, they have high expectations for the next CR-V and that, "our mix will be even better next year." He believes the total U.S. market will come in at about 12.6 million units in the next fiscal year starting April 1st, 2011.
Globally, Honda has faced a massive slump in its third quarter as well as declining net income. Many factors lay behind this slump including the end of Japanese government car buying incentives, the yen's appreciation towards the dollar and euro. However in the U.S., Honda has raised its profit outlook while unchanging its sales target for North America at 1.475 million units. The same cannot be said for its European and Japanese markets.
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