Honda reports 2009-2010 sales results

Honda Motor Co. reported a 4.7% drop in motorcycle sales over the last fiscal year, ending March 31, 2010, but predicts an increase over the next year. Overall, including automobile and power product sales, Honda reported a US$2.86 billion profit, up 95.9% from the preceding year.

The Japanese manufacturer sold 9.6 million motorcycles and scooters during the fiscal year, down from the 10.1 million shipped in the previous year. Honda reported decreased sales in North America but overall sales were buoyed by gains in Asia where Honda’s smaller vehicles are popular.

Despite the overall sales decrease, the fiscal year ended on a positive note as Honda sold 2.6 million units in the fourth quarter, up 30% from the 2 million sold in the same quarter of 2009. Strong sales in Asia were again cited as a major factor for the sales increase.

For the coming fiscal year, Honda forecasts 10.4 million unit sales by March 31, 2011, a 7.6% increase over the recent fiscal year and even higher than the previous year. Honda also predicts US$3.6 billion in profit for the coming fiscal year.

Source: indiacar.com Source : http://www.motorcycle.com (4/28/2010)