Honda Aims at Recovering 10% Market Share in the States image

Honda plans to recover more than 10% market share in the U.S. as soon as possible.

“The North American market is slowly recovering, while we’re entering new segments in Asia,” said Fujio Ando, senior managing director at Chibagin Asset Management. “We’re expecting to grow faster than the overall market.”

In 2012 Honda espects the overall U.S. market sales to reach 14.3 million units, up from 13.5 million in 2011. In the States, the company’s biggest and most profitable market, sales of the remodeled CR-V crossover have jumped by more than a quarter so far this year. For this year Honda forecast an operating profit of 620 billion yen ($7.7 billion), up from 231.36 billion yen from previous year.

“It’s a pretty positive forecast, but they were the worst hit automaker by the tsunami and the Thai floods, so they should be returning or have returned to normal production,” said Fujio Ando.

Honda managed to rapidly recover from the disasters in Japan and Thailand, more than doubling its fiscal fourth-quarter operating profit, ending five straight quarters of year-on-year decline. The operating profit in the first three months jumped to 111.98 yen ($1.4 billion).