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Honda Motor’s 2023 Sales Results of Automobiles in Japan

Honda Motor’s automobile sales in Japan in 2023 increased by 4.6% from the previous year to 594,285 units, while its market share decreased by 1.1 points to 12.4%. Sales of standard vehicles (above 660cc) sales went up by 2.5% to 275,722 units, while their market share dropped by 1.4 points to 9.1%. Meanwhile, sales of light vehicles increased by 6.6% to 318,563 units, and their market share was 18.3%, the same as the previous year. Honda’s ratio of light vehicle sales increased by 1.0 point to 53.6%, a new record high.

Looking at sales by model, sales of the N-BOX increased by 14.4% from the previous year to 231,385 units. It remained popular, maintaining its No. 1 ranking in September 2023, having the top market share for the second consecutive calendar year. Of all domestic models, only the N-BOX exceeded 200,000 units in 2023. Although the delivery time of the Vezel and Step WGN, which used to take more than a year in 2022, has been shortened to about 3 months for the Vezel and about 2 to 6 months for the Step WGN, demand still exceeded supply. Sales result of the ZR-V, whose fully remodeled version was released in November 2022 with a delivery time of 6 months, was only 21,168 units, an increase of 7.3-fold. Sales of the Civic (including Civic Type R) increased significantly by 51.1% year-on-year to 13,258 units. However, the Civic Type R was subject to restrictions such as suspending order acceptance as of January 2024 due to a shortage of semiconductors.

While sales in 2024 are expected to increase thanks to the new N-BOX and the SUV WR-V, which will be launched in March, normalization of production will be the key to expanding sales.

Graph: Honda Motor: Sales Volume and Market Share of Automobiles by Registration Type in Japan (2018-2023)Graph: Honda Motor: Sales Composition of Automobiles in Japan (2023)
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