Honda may move Fit production to US as yen rises

• Source: Global Times
• [15:23 October 20 2009]
• Comments

According to the president of Honda Motor Co, it's a "highly likely possibility" that the Japanese automaker will shift production of the Fit hatchback to the US to offset the effect of robust yen.

All Fits running in the US are imported from Japan. Sales of the fuel-efficient Fit in the US dropped 12 percent to 55,475 units for the first three quarters of 2009.

The yen's 8 percent increase in value against the dollar since August has shrunk Honda already thin profit margins.

Agencies and Shi Jierui contributed to this story