Honda’s 2013 Q1 financials improve over previous quarter

Honda’s first quarter 2013 financial results show improvement not only over the year-ago quarter, which was the first affected by the March 2011 earthquake and tsunami in Japan, but also against the company’s Q4.

Compared to the year-ago quarter, Honda’s net sales, at ¥2.4 trillion, are up 42.1 percent; operating income is up 679.5 percent to ¥176 billion; and net income attributable to Honda Motor Co., Ltd. is up 314.3 percent to ¥131.7 billion. However, that is compared to numbers that were severely down from the year before due to the affects of the storm on the Japanese-based Honda. Compared to Q4 2012, Honda’s net sales are up 1.28 percent; operating income is up 57.3 percent; and net income is up 84.2 percent. And compared to Q1 2011, net sales are up 3.2 percent; operating income is down 24.9 percent; and net income is down 51.7 percent from a record ¥272.4 billion.

In Q1 2013, motorcycle sales were up 12.5 percent to 3.9 million units compared to the year-ago quarter. North America’s motorcycle sales were up 28.3 percent to 59,000 units, attributable to increased sales the CBR250R, Ruckus scooters and ATVs, such as the FourTrax Rancher.

Net sales in the financial services business were down 3.3 percent to ¥134 billion, with a minus 2.4 percent currency effect.