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Honda Reports Q2 2011-2012 Results – Record Motorcycle Sales While Auto Sales Plummet
Honda reports a 20.0% year-on-year increase in motorcycle and ATV sales over the second quarter ended Sept. 30, 2011. Despite a record second quarter for motorcycle sales, Honda saw a drop in net profit due to struggling auto sales and the aftereffects of the Japanese earthquake in March and flooding in Thailand.
According to its second quarter 2011-2012 report, Honda sold 3.28million motorcycles, a new second quarter record. By comparison, Honda sold 2.73 million motorcycles in the same quarter last year.
Motorcycles generated 38.9 billion yen (US$498.7 million) in operating income, a 29.6% increase from the same quarter last year. Despite the strong performance from its motorcycle division, Honda saw a 55.5% drop in net income, taking in 60.4 billion yen (US$774.3 million) over the quarter, compared to 135.4 billion yen (US$1.74 billion) reported last year. Honda attributes the decrease to parts shortages created by the March earthquake and tsunami, as well as a strong yen.
Honda reported increased motorcycle sales across its regional markets, especially in Asia which accounted for 2.57 million units. North American consumers bought 53,000 motorcycles, a 23.3% increase from the 43,000 units sold the same quarter last year. Honda credits the increase to a positive impact of the CBR250R as well as the CRF250F motocrosser and the four-wheelers such as the TRX350, TRX500FE, Fourtrax Rancher, and Fourtrax Foreman.
Honda withheld its forecasts for the remaining fiscal year ending March 31, 2012, as the company evaluates the effect of severe floods in Thailand.
Honda Reports Q1 2011-2012 Results