Why Honda Motor Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Shares of Honda Motor Company, Ltd. (NYSE:HMC) are rising after American Honda provided a positive outlook for its U.S. automobile business for 2024. The company expects sales of up to 1.3 million units for the Honda brand and 150,000 units for the Acura brand, indicating a 10%-15% increase compared to 2023. American Honda ended 2023 with 1.3 million units in sales, a 33% increase year-over-year. The Honda CR-V hybrid was the best-selling hybrid vehicle in the U.S. in 2023. The company plans to capitalize on hybrid models, light trucks, and begin sales of high-volume BEV models in 2024.
January 18, 2024 | 5:41 pm
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POSITIVE IMPACT
Honda Motor Company expects increased sales for 2024, with a 10%-15% rise compared to 2023, and strong performance from the Honda CR-V hybrid. The positive outlook and sales momentum are driving the stock price up.
The positive sales outlook for 2024, including the success of the Honda CR-V hybrid, is likely to instill investor confidence and contribute to a short-term rise in HMC's stock price. The company's strong performance in 2023 and the anticipated growth in sales for both Honda and Acura brands, along with the introduction of high-volume BEV models, are key factors supporting the positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100