Honda Reports Q2 2010-2011 Results
PCX scooter has positive sales impact
In the three months ending Sept. 30, 2010, Honda sold 2.7 million units (including motorcycles and ATVs) worldwide, up from 2.4 million units sold over the same period in 2009. Motorcycle sales generated 312.8 billion yen (US$3.7 billion) in net revenue, an increase of 13.6%.
Honda sold about 43,000 units in North America over the quarter, matching the results from the same quarter in the previous year. According to Honda, the new PCX scooter had a positive impact on sales. Mid-sized ATV sales also increased while sales of larger displacement ATVs decreased.
Sales in Asia continue to grow with Honda selling 2.15 million units over the second quarter, up from 1.86 units the previous year. Honda credits the gains to the popularity of the CB Twister, CB Shine and Activa in India, the Wave series and the PCX in Vietnam and Thailand, and the Future Neo and Air Blade in Vietnam.
European sales rose to 41,000 units, up from 40,000 units, thanks to the introduction of the PCX scooter in France, Italy and Spain. Sales in South America and other regions also saw increases, with 445,000 units sold, compared to 408,000 units in the same period last year.
Japan was the only region that reported a decrease in sales, with 47,000 units sold, down from 52,000 units. Again, the PCX scooter had a positive impact on sales while other scooter models were less successful.
For the current fiscal year (ending March 31, 2011), Honda forecasts sales of 5.6 million units, a 20.5% increase from last year’s sales. In North America, Honda expects to sell 103,000 units on the year, up from 97,000 units.