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Honda sees North America revenue improvement

Keywords: Tags  Honda Motor, North American auto business, revenue, operating earnings, corinna petry

CHICAGO — Honda Motor Co. Ltd. recorded a 26.3-percent year-over-year increase in revenue in its North America segment in its fiscal third quarter.

The gain in North American revenue to $13.6 billion reflected a 24-percent increase in North American sales to 454,000 passenger cars and light trucks during the three months ended Dec. 31.

The Tokyo-based automaker said higher selling, general and administrative costs cut into its quarterly profits.

For the nine months ended Dec. 31, North American automotive sales jumped 52.1 percent to 1,308,000 vehicles, and revenue of $38.4 billion was up 39.8 percent from the same period a year earlier.

Operating earnings in North America—a figure that includes the automotive, motorcycle, power product and financial services businesses—fell 5.3 percent during the fiscal third quarter but rose 27.5 percent during the nine-month period ended Dec. 31, Honda said.

Globally, the Tokyo-based company saw quarterly profits jump 62.5 percent from a year earlier on a 24.9-percent gain in revenue, while nine-month profits more than doubled on a 28.7-percent improvement in revenue.

Nine-month vehicle sales in Europe improved 7.1 percent for Honda, while unit sales rose 36.3 percent in Japan and were up more than 40 percent in the rest of Asia.

Honda said the dramatic improvement in global sales and profits came on a recovery in production after flooding shut down plants in Thailand in 2011. Other factors included cost reductions and a favorable model mix, the company said.

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