Honda Reports Q3 2010-2011 Results
Honda Reports Q3 2010-2011 Results
The Japanese manufacturer reported sales of 2.9 million units over the quarter, up from 2.4 million in the same quarter the previous year. Third quarter motorcycle sales generated 301.9 billion yen (US$3.68 billion) in revenue for Honda, a 10.4% year-on-year increase.
Asia continues to be Hondas largest market with 2.3 million units sold during the third quarter, an increase of 23.7% from the same quarter the previous year. Honda credits the positive results to increased sales of the Activa, CB Shine and the new CB Twister and Unicorn Dazzler in India, as well as the Wave series scooters in Vietnam and Thailand and the Vario and BeAT scooters and Supra-X motorcycle in Indonesia.
Sales were also up in Japan, Europe and other markets such as Brazil, but North American sales continue to struggle. Honda reported sales of 44,000 units in North America, a decrease of 6.3%. Honda attributes the decrease to poor sales for ATV models such as the TRX250X and youth models such as the CRF50. Despite the drop in sales, Honda reports increased sales for the Ruckus and its UTV models as well as the introduction of the PCX scooter.
Honda expects to sell 11.5million units worldwide by the end of the fiscal year, an increase of 19.7 % over the previous fiscal year which ends March 31, 2011. In North America, Honda expects to sell 185,000 units by the end of the fiscal year, a 2.1% drop from the 189,000 units sold the previous year.
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