Honda Motor(US:HMC) 日经中文网·2025-11-25 05:36Core Viewpoint - Honda is significantly impacted by the supply halt from Nexperia, leading to a projected 14% decline in global sales in the second half of the year, dropping to 1.66 million units, and a fall in ranking among Japanese automakers from second to fourth place [2][4][5]. Group 1: Sales Impact and Rankings - Honda's global sales for the second half of the year are expected to reach a new low since the Lehman crisis in 2008, with a total of 1.62 million units [5]. - Suzuki's sales have increased by 8% to 1.8 million units, allowing it to rise to the second position, marking Honda's first time out of the top three in the second half since 2005 [6][8]. - The long-standing dominance of Toyota, Nissan, and Honda is beginning to dissolve, with Suzuki capitalizing on growth in the Indian market despite competition [8]. Group 2: Production Adjustments - Due to semiconductor shortages, Honda's North American sales are expected to decrease by 110,000 units from initial forecasts, with production adjustments starting from late October [4]. - Production in Mexico was resumed on November 19, with gradual recovery in Canada and the U.S. starting from November 24 [5]. - Honda is considering measures such as holiday production in North America to boost sales and mitigate the impact of semiconductor shortages [6]. Group 3: Financial Implications - The semiconductor shortage is projected to reduce Honda's operating profit by 150 billion yen, with an expected annual profit decline of 55% to 550 billion yen [6]. - The company is exploring ways to reduce reliance on Nexperia to mitigate future semiconductor risks [6].