Honda 3Q MC sales up 39%
Honda Motor Co., Ltd., says its consolidated net income for the fiscal third quarter ended December 31, 2002, totaled $961 million, an increase of 40% from the same period in 2001. Consolidated net sales and other operating revenue reached roughly $16.6 billion, an increase of 13.3% over the corresponding period in 2001.
Consolidated operating income for the fiscal third quarter totaled about $1.33 billion, an increase of 2.7% compared to the same period in 2001, while consolidated income before income taxes for the quarter totaled a little over $1.32 billion, an increase of 31.7% from the same period in 2001.
Motorcycle unit sales during the fiscal third quarter increased 39.6% to 2,145,000 units, and revenue increased 6.9%, to about $1.8 billion. Honda says sales increases were due primarily to higher sales in Asian countries such as Thailand, China, Indonesia and India.
Polaris, Brunswick team up
Polaris Industries (NYSE:PII), Medina, Minn., and Mercury Marine, Lake Forest, Ill., a division of Brunswick Corporation (NYSE:BC), have formed a distribution agreement which will have Polaris Watercraft sold by more than 300 Mercury Marine dealers in Asia and Latin America, including Japan, China, Brazil, and other markets.
The two companies say the agreement will help increase sales and exposure for the Polaris Watercraft brand. Polaris Watercraft says it intends to distribute watercraft at Mercury Marine locations in selected international markets, but the company says no changes will be made to its U.S. distribution process.
On the move
American Motorcycle / Marine Institute(AMI) has named Brandon Williams president. He replaces Lamar Williams, who has retired after 17 years, but continues on the company’s board as CEO.
Kerry Bryant has been promoted to the position of vice president for Jardine Performance Products and Doug Thorley Headers. Bryant will oversee both motorcycle and automotive divisions of sales, marketing, R&D, and engineering.
Carlisle address change
Carlisle Power Transmission Products, has a new address in Canada. Canadian customers with warranty claims should send the claims to this new address: Carlisle Power Transmission Products, 645 McMurray Rd., Waterloo, Ontario, Canada N2V 2B7.
MV gets $25 Million Loan
Italian motorbike manufacturer MV Agusta reportedly resumed production in early February thanks to a nearly $25 million loan granted to it in January by Italian bank Banca Intesa.
BMW’s 2002 sales Up 9.9%
The BMW Group, Munich, Germany, reports total revenues rose by 9.9% to about $42.3 billion in 2002, compared to roughly $38.5 billion in 2001.
Total motorcycle revenues in 2002 accounted for $1.13 billion, an increase of 6.7% compared to $1.05 billion in 2001. While the company built 97,507 bikes during 2002, or 2.7% less than it built in 2001, it delivered a 2002 year-end total of 103,020 units, or 8.1% more than the 95,327 units delivered during 2001.
Honda sets Plans for Asia
Honda Motor Co. Ltd. plans to significantly step up motorcycle production in China and India this year in a bid to increase its share in those markets, according to published reports. Honda will boost production in China this year by 50% to 1.5 million units, a Honda spokeswoman told AFX news service. Honda has an 8% share of China’s motorcycle market and hopes to boost this to 30% by 2005 by winning customers in rural areas, she said.
The firm will also increase production in India by 24% to 2.3 million motorcycles this year, the spokeswoman said.
HOT NEWS – February 10, 2003
Honda 3Q MC sales up 39%