Honda plans to reduce exports from Japan to as little as 10% of domestic production as the strong yen erodes earnings from overseas shipments.
Honda aims to sell 80% to 90% of Japan-made vehicles in its home market, spokeswoman Tomoko Uchida said. Last year, the carmaker shipped 310,254 vehicles, or 34% of its Japanese production, overseas.
Japanese carmakers including Honda, Toyota and Nissan are moving more production out of Japan to counter the effect of the strong yen. Honda plans to maintain domestic production of about 1 million vehicles a year, Uchida said, reiterating a previous statement by the company.