Honda Reports Q2 2013-2014 Sales ResultsThu, 31 Oct 2013 00:00:00 -0700
Honda sold 4.2 million motorcycles over its second quarter ended Sept. 30, 2013. This marked the second consecutive quarter with motorcycle sales topping the four million mark, and a 10.8% increase on the 3.8 million units sold in the same quarter last year.
European sales stayed even at 38,000 units, Honda reported year-on-year increases elsewhere including North America, where sales increased 13.3% to 68,000 units from 60,000 units over the quarter.
Motorcycles generated ¥418.0 billion yen (US$4.25 billion) in net sales, a 35% increase on the ¥309.7 billion reported in the same quarter the last fiscal year. Favorable currency effects and an improved product mix helped Honda record an operating income of ¥45.5 billion (US$463 million) from its motorcycle business, compared to ¥25.4 billion last year.
Overall, Honda Motor Co. reported a net income of ¥120.4 billion (US$1.22 billion) over the second quarter, compared to ¥82.2 billion yen reported last year.
Despite the positive results in the quarter, Honda has revised its forecast for its 2013-2014 fiscal year. The new forecast calls for worldwide sales of 17.32 million units, down from the previous forecast of 17.4 million. For North America, Honda lowered its year-end forecast to 280,000 units from 315,000 units.
By Dennis Chung
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