Strong U.S. Sales Bolster Honda Earnings
Honda Motor Co. reports its operating profit rose 16% to 239 billion yen ($1.9 billion) in the fiscal first quarter ended June 30.
#economics
Honda Motor Co. reports its operating profit rose 16% to 239 billion yen ($1.9 billion) in the fiscal first quarter ended June 30. Net profit climbed 20% to 186 billion yen ($1.5 billion).
Honda's consolidated revenue in April-June grew 16% to 3.7 billion yen ($29.9 billion). First-quarter unit sales of the company's cars and trucks advanced 5% to 1.15 million vehicles, aided by improvements of 11% in North America its largest market and 19% in Asia. Those gains offset lower year-on-year sales in Japan (-27%) and Europe (-16%).
The company reiterates its full fiscal year guidance, which includes a 3% increase to 525 billion yen ($4.2) in net profit. Honda's quarterly report marks the first time results have been presented under international accounting standards.
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 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.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.