Sept. 6, 2010 – Honda’s sales rise 17% in North America

Honda Motor Co. reported a double-digit percentage increase in its North American revenue in its most recent quarter, noting an improvement in ATV sales.
Honda’s North American sales rose to $12.8 billion for its quarter that ended June 30, nearly a 17 percent rise from a year ago.
Honda’s North American motorcycle sales totaled 30,000 units, which was on par with a year ago. Its ATV sales, however, increased nearly 30 percent to 30,000 units.
Honda attributed its increase in North American sales mainly to rising auto sales.
In Europe, Honda reported a slight increase in unit sales. There, the company sold 64,000 units, a 3 percent rise over the year-ago quarter. Almost all of Honda’s European unit sales are motorcycles.
Companywide, Honda’s sales rose nearly 18 percent from a quarter ago despite unfavorable currency effects. The company said if calculated at the same exchange rate as a year ago, revenue for the quarter would have increased by 19.5 percent.
Honda’s net income totaled more than $3 billion in the quarter, a significant rise over a year ago. Looking ahead, Honda is predicting an increase in its worldwide motorcycle sales, which could total 10.8 million units in its current fiscal year. That would represent a 12 percent increase over the previous fiscal year. PSB

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