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
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.