JAPAN: 200,000 car sales would offset Y10 $ fall - Honda CFO
Honda Motor would need to raise global car sales by about 200,000 units to offset a JPY10 fall in the US dollar, its chief financial officer said.
"If the dollar fell by JPY10, that would push down annual operating profit by JPY170bn yen (US$2.1bn) and we would need to raise global sales by about 200,000 units," Yoichi Hojo told Reuters.
He added that he expected Honda to be able to increase its US sales by about 100,000 units and its emerging markets sales by another 100,000 next year.
Honda last week posted strong second-quarter earnings but disappointed with a conservative full-year forecast that suggested its second-half profits would fall to a quarter of what it made in the first six months.
Unsourced reports in Japan today suggested the automaker was eyeing building hybrids in China and the US to boost sales in the longer term.