Honda reports increased net income, but decreased N. American cycle sales
March 8, 2007
Filed under Features
Honda Motor Corp. is reporting double-digit increases in net sales and income in its first three quarters even as its North American motorcycle and ATV sales have dropped significantly.
The corporation’s third-quarter financial statement shows a 13-percent drop in motorcycle sales in North American and a 16-percent decrease in the entire motorcycle segment, which includes ATVs. Those decreases are through the company’s first three quarters, which ended Dec. 31.
It’s the second straight year that Honda’s North American motorcycle segment sales have dropped in its first three quarters. In 2004, the company reported selling 413,000 units through the first nine months of its fiscal year. Last year, that number dropped to 404,000 and this year it’s down to 339,000.