Honda Motor Co. didn’t suffer as badly as other carmakers during the economic crisis as it was able to avoid full-year losses; however, its recovery has not been as sharp too. Through September, American Honda's sales increased by only 3%, compared with the 10% increase for the US market as a whole.
Its market share contracted to 10.6%, from 11.3% a year ago. Honda Motor CEO Takanobu Ito claims that its new products, led by the redesigned Odyssey minivan, will have above-average growth in 2011. For the next two years, Honda will offer a set of new technologies.
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