Mexican Media Brands
Honda Posts Sales, Profit Gains
Honda Motor Co. reports hefty gains in sales and earnings for its fiscal first quarter ended June 30.
#economics
Share
Honda Motor Co. reports hefty gains in sales and earnings for its fiscal first quarter ended June 30.
The company’s units sales rose 3% to 1.3 million vehicles, including an 8% jump to 518,000 units in North America. Revenue for the quarter climbed 8% to 4 trillion yen ($35.8 billion).
Consolidated net profit surged 18% to 244 billion yen ($2.2 billion). Pretax earnings expanded 7% to 358 billion yen ($3.2 billion)
Honda notes that its gains came in spite of unfavorable exchange rates, higher commodity prices and continuing disruption to production in Mexico.
The company expects its full-fiscal-year car sales will reach 5.29 million units in the period ending April 30, 2019. The new forecast is down 90,000 units from the previous estimate but up from last year’s 5.20 million vehicles.
Honda now expects a net profit for the 12-month period of 615 million yen ($5.5 million), up 8% from its earlier guidance but 45% below last year’s result.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.