Honda is experiencing serious difficulties
- The Japanese carmaker Honda (7th largest producer in the world) is experiencing serious difficulties at the global level. In 2022, Honda saw its sales drop by 2% in Europe, by 2% in Japan, by 9% in China and above all by 35% in the United States, which resulted in an overall drop of 20% in its global sales as the US market is a very big market for Honda.
- Since 2018, the year of global production peak for Honda (5.35 million vehicles, not including two-wheelers), the Japanese carmaker has continued to lose markets shares, facing a competition becoming increasingly aggressive.
- While Toyota managed to maintain its sales volume at a high level between 2018 and 2022 (more than 10 million vehicles per year), Honda lost 30% of its sales over this period, going from 5.35 million units to less than 4 million.
- Its presence in Europe, after the closure of its factories in Swindon (England) and Gebze (Turkey), has become symbolic. Its recent models have not been very successful. Honda is losing ground in China (-28% over the first 7 months of 2023). Finally, Honda missed its entry into the battery electric vehicle market, with an unsaleable Honda E.
- Honda's global market share fell from 6% in 2018 to 5% in 2022. And the decline continues in the first half of 2023, with a global market share of 4.5%. Honda intends to revive its sales and catch up in the BEV market thanks to its agreement with the American carmaker GM, but this agreement will not begin before 2024.