Honda Reports Q2 2013-2014 Sales Results
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.