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Improving U.S. Economy and Replacement Demand to Benefit Auto Industry

NEW YORK, NY--(Marketwire - Feb 22, 2013) - With the economy of the U.S. showing significant signs of improvement, increased private sector hiring, gains in housing and automobile markets, and expansion of domestic energy production and manufacturing are among the macro-trends likely to instill more confidence in the economy. Improving economy aided by auto replacement demand will prove to be beneficial to auto giants the likes of Toyota Motor Corporation ( NYSE : TM ) and Honda Motor Co. Ltd. ( NYSE : HMC ). Toyota is a Japanese company involved in the designing, manufacturing and selling of automobiles globally and is amongst the world's top 2 auto manufacturers. Honda is another Japanese company which is amongst the world's biggest developers and manufacturers of automobiles, motorcycles and is also involved into power products business.

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Toyota delivered solid top-line and stellar bottom-line performance for nine months of 2013. The company reported Net Income growth of 23.4% to $1.23 billion on revenues of $65.6 billion. For 9 months period ended December 2012, Toyota reported Net Income growth of 298.8% to $8.10 billion or $2.56 per diluted share on revenue growth of 26% to $202.8 billion.

For fiscal year 2013, Toyota has forecasted an aggressive Net Income of $10.62 billion on Net Revenues of $269.13 billion. Commenting on forecasts for fiscal year 2013, Toyota's Senior Managing Officer Takahiko Ijichi said, "Given increased overseas sales mostly in North America, progress in our companywide profit improvement activities and slight weakening of yen, we have revised upwardly our consolidated forecast for current fiscal year. We believe that our efforts have been bearing fruit and that we are finally on the road to sustainable growth."

Elsewhere, Honda announced that it has newly developed a technology to join steel and aluminum and applied it to enable adoption of aluminum for an outer door panel, which has conventionally been made of steel. Honda will adopt this technology first to the North American version of the all-new Acura RLX, which will go on sale in the U.S. in March 2013, and will expand application sequentially to other models.

The new technology contributes to the improvement of fuel economy and dynamic performance of the vehicle by reducing door panel weight by approximately 17% compared to the conventional all-steel door panel.

Earlier, Honda Motor reported exceptional overall business growth for nine months of fiscal 2013. For third quarter, Honda reported Net Income growth of 62.5% to $894 million or $0.50 per diluted share on Revenues of $28.0 billion. For 9 months period ended December 2012, Honda reported Net Income growth of 108.3% to $3.36 billion or $1.87 per diluted share on revenue growth of 28.7% to $82.37 billion. Dividend of $0.22 per diluted share was also announced.

For fiscal year 2013, Honda has forecasted an aggressive Net Income of $4.56 billion or $2.53 per diluted share on Net Revenues of $120.98 billion.

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