Honda motorcycle sales grow in Q3

Consolidated unit sales in Honda’s motorcycle business (including motorcycles and ATVs) grew nearly 4 percent to 2.763 million units in Honda’s fiscal third quarter, which ended Dec. 31. Honda credits the increase to unit sales growing in India and Indonesia.

Through the fiscal nine months ended Dec. 31, consolidated motorcycle unit sales were up 4.6 percent to 7.963 million units.

The following is the press release from Honda on its company’s Q3 performance.

Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2014.

2015 Gold Wing

Consolidated operating income for the fiscal third quarter (October 1, 2014 through December 31, 2014) amounted to 177.2 billion yen, a decrease of 22.5% compared to the same period last year, due to profit-reducing factors such as a difficult automobile market environment in Japan and an increase in quality-related expenses mainly in North America. This was despite profit-increasing factors such as an increase in motorcycle sales in Asia and favorable currency effects associated with depreciation of the Japanese yen. Consolidated income before income taxes for the fiscal third quarter amounted to 194.1billion yen, a decrease of 10.4% compared to the same period last year. Consolidated net income for the fiscal third quarter amounted to 136.5 billion yen, a decrease of 15.1% compared to the same period last year.

Consolidated operating income for the fiscal nine months (April 1, 2014 through December 31, 2014) amounted to 539.7 billion yen, a decrease of 7.7% compared to the same period last year, and consolidated net income*1 amounted to 424.9 billion yen, an increase of 5.3% compared to the same period last year.

Reflecting the fiscal nine month results, as well as the forecasted favorable effect of yen depreciation, a forecasted decline in unit sales in Japan and China due to the difficult automobile market environment and a forecasted increase in quality-related expenses mainly in North America, Honda made some revisions to the previously announced forecasts for the current fiscal year (April 1, 2014 through March 31, 2015). The previously announced forecast for consolidated operating income was revised downward from 770.0 billion yen to 720.0 billion yen. The forecast for consolidated net income*1 for the current fiscal year was also revised downward from the previous 565.0 billion yen to 545.0 billion yen.

The quarterly dividend for the fiscal third quarter will be 22 yen per share, a 2 yen increase compared to the quarterly dividend for the same period last year. The total cash dividend to be paid for the fiscal year ending March 31, 2015 is expected to be 88 yen per share, an increase of 6 yen per share from the previous fiscal year.

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