Honda Reports Q1 2012-2013 Results

Honda reports a 12.5% increase in motorcycle sales over its first quarter ended June 30, 2012. The quarter represents a return to form following last year’s opening quarter which faced the financial fallout from last March’s earthquakes and tsunami in Japan.

The difference is most apparent when looking at the company’s bottom line. Honda reported a net income of 131.7 billion yen (US$1.69 billion) in the first quarter of 2012 compared to a net income of 31.7 billion reported for the same quarter of 2011.

Honda sold 3.91 million motorcycles (including 29,000 ATVs) over the first quarter, compared to only 3.48 million units in the quarter the previous year.

The North American market accounted for 59,000 units, up from 46,000 units. Honda credits the CBR250R and the Ruckus scooter as well as the FourTrax Rancher ATV for the increased sales.

The Asian market continues to drive Honda’s motorcycle sales, snapping up 3.29 million units over the quarter, a 14.1% increase over the 2.89 million units sold in the same quarter last year.

Honda also saw an increase in its home market, with Japanese consumers purchasing 59,000 units, an increase from 52,000 units. Japanese sales benefited from the introduction of the all-new NC700S, NC700X and CRF250L, as well as the freshly remodeled Super Cub 50.

The NC models also had a positive impact in Germany and the U.K. but overall sales in Europe decreased to 60,000 units from 62,000 units due to decreased scooter sales in southern Europe.

Motorcycles generated net sales of 346.6 billion yen (US$4.44 billion) over the first quarter, a year-on-year increase of 4.9% from 330.3 billion yen.

Looking ahead, Honda forecasts sales of 16.6 million motorcycles for its fiscal year ending March 31, 2013, a 10.2% increase from the 15.1 million units sold the previous year. Honda also forecasts a net income of 470.0 billion yen over the fiscal year, an increase from 211.4 billion.

[Source: Honda]

By Dennis Chung