Hyundai boosted its quarterly profit by 46 percent, and managed to outsell Honda, whose production was hampered by the earthquake and tsunami that hit Japan in March.
Hyundai managed to sell 919,000 units in the quarter, compared to 860,000 for Honda. Honda’s earnings, output and total sales were down markedly, in line with other Japanese auto makers who have been forced to curtail production. While Honda expects production to be down until June, analysts say that the Japanese auto industry’s slump may help Hyundai surpass other Japanese OEM’s like Toyota and Nissan.
[Source: The Detroit News]