Honda's U.S. Production Hits 20M - Analyst Blog
Honda Motor Co., Ltd. (NYSE: HMC) achieved two production milestones in the U.S. recently. The company completed the production of 20 million vehicles in the nation on Mar 20. The 20 milllionth vehicle was also the 10 millionth Honda Accord built in the U.S.
The milestone was achieved in Honda's Marysville Auto Plant, which was incidentally the plant in which the automaker made the first U.S.-built Accord on Nov 1, 1982. It also holds the honor of being the first Japanese auto plant to begin manufacturing in the U.S.
Honda has three other plants in America in East Liberty, OH, Lincoln, AL and Greensburg, IN. It is building another one – the Performance Manufacturing Center – in Marysville, OH, which will be the sole global producer of the new Acura NSX from next year. Additionally, Honda produces engines in Lincoln, AL, and Anna, OH, and automatic transmissions in Russells Point, OH, and Tallapoosa, GA, to supply to its four auto plants.
All the four present auto plants in America contributed to the production of 20 million vehicles. These plants manufacture 11 car and truck models for Honda. Annual production of these plants in 2013 was 1,309,917 units, a record high and a 7.4% improvement over 2012. Additionally, the company manufactured 23.77 million automobile engines and 18.64 million transmissions in the U.S.
Currently, shares of Honda retain a Zacks Rank #2 (Buy). Some other automobile stocks worth considering are Tata Motors Limited (NYSE: TTM), Daimler AG (DDAIF) and Tesla Motors, Inc. (NASDAQ: TSLA). Tata Motors and Daimler sport a Zacks Rank #1 (Strong Buy) while Tesla is a Zacks Rank #2 stock.
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