Mexican Media Brands
Honda’s Quarterly Net Profit Climbs 16%
Honda Motor Co. reports its net profit in the fiscal first quarter ended June 30 grew to 207 billion yen ($1.9 billion) from 175 billion a year earlier.
#economics
Share
Honda Motor Co. reports its net profit in the fiscal first quarter ended June 30 grew to 207 billion yen ($1.9 billion) from 175 billion a year earlier.
Operating profits for the period advanced 1% to 269 billion yen ($2.4 billion), hampered by higher selling and product development costs. Gains in Asia, including Japan, offset lower sales volumes in Europe and the U.S.
Honda’s sales revenue in April-June climbed 7% to 3.7 trillion yen ($33.7 billion), aided by a richer sales mix. Retail unit sales rose 4% to 1.27 million vehicles.
The company says its regional operating profits for the period plunged 40% in North America but grew 8% in Asia and fivefold in Europe.
Still, Honda raised its full-fiscal-year outlook, which anticipates more favorable exchange rates. The company predicts an operating income of 725 billion yen ($6.6 billion) and net income of 545 billion ($4.9 billion). Those totals are 16% and 12% lower than the previous 12-month period but are better than the company’s earlier guidance.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
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.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.