The automaker sold just 91,631 vehicles in the month of January, a 2.1% decrease from the same month in 2013. Strong sales in the company's Acura brand of luxury vehicles helped keep losses lower than they could have been.
In a statement Honda said, "Record cold weather in several of Honda's stronghold markets in Eastern and Midwestern parts of the country helped cool sales across the board in the first month of the year."
Sales of the Honda Accord, typically the company's best-seller, were down 13.9% in the month. The CR-V SUV, however, was up 2.4%. The new flagship sedan for the Acura brand, the RLX, also performed well. The company sold 420 RLX units in January.
TheStreet Ratings team rates HONDA MOTOR CO LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HONDA MOTOR CO LTD (HMC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."