Sept. 1, 2010 – Honda’s 1Q cycle sales on the rise
September 1, 2008
Filed under Features
Honda reported a mixed first quarter for its powersports sales in North America.
The manufacturer had a 13.6 percent increase in its North American motorcycle sales compared to the previous year period. But overall, Honda was flat, selling 80,000 units in North America, meaning its sales of ATVs and PWC were probably down compared to the previous year period.
Overall, Honda reported an increase in worldwide motorcycle sales thanks primarily to robust growth in Asia. Honda’s total motorcycle sales of 2.6 million was a 21.2 percent rise over the previous year period. Sales in Asia grew even more, at more than 26 percent, while sales fell in Europe (by 5 percent) and Japan (nearly 31 percent).
For all of its segments, including automobile, Honda’s net sales decreased 2.2 percent, although that downfall was primarily due to foreign exchange rates. The company estimates its first-quarter revenue would have been up 7.1 percent from a year ago if calculated at the same exchange rate as the 2007 first quarter.
Honda’s net income rose 8.1 percent, a record high for its first quarter.
Honda’s auto segment saw increased overall sales, although its biggest market — North America — fell slightly.