Honda Motor boosted fourth fiscal quarter operating income to 31 March 201321.4% to JPY135.9bn (GBP892.4m) after car sales rose in Asia as a result of the recovery from the impact of the major previous year flooding in Thailand as well as favourable currency effects of the depreciation of the Japanese yen.
Operating income for the fiscal year soared 135.5% to JPY544.8bn (GBP3.58bn) due to a “significant” increase in car sales, up 900,000 units to just over 4m vehicles, led by strong growth in North America, Asia and Japan as a result of recovery from the impact of the Japanese earthquake, the Thai floods and the success of new model introductions. An increase of motorcycle sales globally of 430,000 units further supported growth.
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Honda’s forecasts for the fiscal year ending 31 March 2014 are optimistic with a 59.5% increase to JPY780bn (GBP5.12b) income before tax.
Honda reported sales increases across its automobile, motorcycle and power equipment product ranges during the fiscal year.
In Europe, although market conditions remain challenging, Honda has recorded an encouraging sales start to 2013 with a 16.3% increase in sales of cars alone, compared to 2012, following solid demand for the recently introduced new CR-V and 1.6-litre diesel Civic models.
Full financials: click on ‘press release’ below
