Honda President Predicts Japan's Domestic Sales Will End Slide

TOKYO October 21, 2003 Yoshio Takahashi writing for Dow Jones reported that Honda Motor Co.'s president said Tuesday he expects his company's domestic auto sales will stop falling in October, breaking a year-long slide and signaling Honda's prospects may be improving at home.

"I expect sales in October will top last year's level," Takeo Fukui said in panel discussion at an automotive conference in Tokyo.

Fukui said demand for Honda's recently launched "Life" mini-vehicle as well as its partly remodeled "Step Wagon" minivan model would help underpin sales in October, adding that he hopes sales in Japan will keep picking up, lifted by demand for the new "Odyssey" minivan model.

Honda's sales have been in a tailspin in Japan for nearly a year, a stark contrast to its strong performance in foreign markets. In August, Honda's domestic sales fell 14.9% to 48,817 vehicles, the 11th consecutive month of decline.