Honda sees U.S. sales rebound

Honda says replenished vehicle inventory and new Honda and Acura models planned for the next 24 months will spur a U.S. sales rebound next year after natural disasters dashed its 2011 goals.

Honda’s loss of some North American output in October and November because of parts shortages caused by floods in Thailand led to it being the only large automaker to post a U.S. sales decline last month as total sales jumped 14%.

That came after six months of declines resulting from reduced auto inventory triggered by Japan’s March earthquake and tsunami.

“I’m going to the shrine to pray to avoid any more such disasters from Mother Nature,” Tetsuo Iwamura, Honda’s top North American executive, said in a Dec. 2 interview in Las Vegas. “Next year, even starting this month, we’ll recover.”

Japan’s third-largest automaker counts on the U.S. for the largest portion of its global sales.

Tight inventory and competition from Ford, Hyundai and Kia and others cut Tokyo-based Honda’s U.S. sales 5.3% through November.

Though Honda’s market share has fallen to 9% from 10.5% so far in 2011, combined share for South Korean affiliates Hyundai and Kia rose to 9% from 7.8% a year ago.

“It is a year to forget, and then push the reset button,” said Rebecca Lindland, an analyst with IHS Automotive. “We’re now seeing heavy replacement demand.”

IHS estimates U.S. sales of new cars and trucks will rise to about 13.3 million units in 2012, from about 12.7 million this year, she said.