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Honda forecasted to report worst May sales since 1997
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The full impact of reduced auto production due to the Japan crisis probably hasn't been fully felt. But here's an ominous sign: Honda is set to report its worst May sales since 1997,Edmunds.com says.
The final figures won't be in until next week, but for Japanese automakers, they are going to be especially ugly because of production disruptions arising from the March 11 earthquake and tsunami.
Like Honda, Toyota lost market share this month by a hefty 2.4 percentage points, Edmunds.com predicts. And the beneficiaries?: General Motors, Ford, Chrysler, plus the South Korean sister brands, Hyundai and Kia.
In fact, Hyundai and Kia will probably come in with a 9.9% market share, placing the companies' combined share fifth overall ahead of Honda and behind Chrysler.
In a surprise, Nissan could show a sales gain. Biggest sales gainers among all brands remain small cars.
"Even though gas prices have moderated slightly from recent weeks, small cars continue to fly off dealer lots at a pace not seen since the gasoline-price run-up in the summer of 2008," says Edmunds.com analyst Michelle Krebs. "As a result, inventories of those vehicles are thinning quickly and dramatically, exacerbated by the production disruptions caused by the earthquake in Japan."
Average car prices are still $370 higher than since before the earthquake, Edmunds says, with Japanese cars seeing the biggest increases. Edmunds says they are up $610 on average since the quake.
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The full impact of reduced auto production due to the Japan crisis probably hasn't been fully felt. But here's an ominous sign: Honda is set to report its worst May sales since 1997,Edmunds.com says.
The final figures won't be in until next week, but for Japanese automakers, they are going to be especially ugly because of production disruptions arising from the March 11 earthquake and tsunami.
Like Honda, Toyota lost market share this month by a hefty 2.4 percentage points, Edmunds.com predicts. And the beneficiaries?: General Motors, Ford, Chrysler, plus the South Korean sister brands, Hyundai and Kia.
In fact, Hyundai and Kia will probably come in with a 9.9% market share, placing the companies' combined share fifth overall ahead of Honda and behind Chrysler.
In a surprise, Nissan could show a sales gain. Biggest sales gainers among all brands remain small cars.
"Even though gas prices have moderated slightly from recent weeks, small cars continue to fly off dealer lots at a pace not seen since the gasoline-price run-up in the summer of 2008," says Edmunds.com analyst Michelle Krebs. "As a result, inventories of those vehicles are thinning quickly and dramatically, exacerbated by the production disruptions caused by the earthquake in Japan."
Average car prices are still $370 higher than since before the earthquake, Edmunds says, with Japanese cars seeing the biggest increases. Edmunds says they are up $610 on average since the quake.
