Mexican Media Brands
Honda Cuts Outlook as Profits Rise
Honda Motor Co.'s revenue in the July-September fiscal quarter grew 4% to 3 trillion yen ($28 billion) as global auto sales advanced 2% to 1.07 million units.
#economics
Share
Honda Motor Co.'s revenue in the July-September fiscal quarter grew 4% to 3 trillion yen ($28 billion) as global auto sales advanced 2% to 1.07 million units.
Net income rose 18% to 142 billion yen ($1.3 billion) for the period, and consolidated pretax income climbed 9% to 180 billion yen ($1.7 billion).
But consolidated operating income fell 4% to 164 billion yen ($1.5 billion). Results were dragged down by a 14% drop in North America caused by costly sales incentives and weak demand.
Honda lowered its guidance for the current fiscal year ending March 31. It now expects to sell 4.6 million vehicles, up from 4.3 million in the previous 12-month period but down from its earlier estimate of 4.8 million units.
The company trimmed its net revenue forecast 0.4% to 12.75 trillion yen and lowered its net income outlook 6% to 565 billion yen. The company left its operating income target unchanged at 770 billion yen.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.