February 4, 2023

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Honda Q3 sales and profits rise, forecasts revised up | Automotive Industry News

Honda launches this fiscal year included a new, hybrid only Jazz [Fit] for Europe

Honda launches this fiscal yr included a new, hybrid only Jazz [Healthy] for Europe

Honda Motor mentioned revenue earnings for the third fiscal quarter of 2020/2021 rose .6{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} to JPY3,771.5bn owing to an enhance from its automobile business.

Operating profit rose sixty six.7{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} to JPY277.7bn “owing mainly to increased performance of R&D expenditures and price tag reduction attempts. This was in spite of unfavorable forex outcomes”, the automaker mentioned.

3rd quarter automobile business earnings was JPY2,638.1bn, a yr-on-yr enhance of JPY63.2bn, owing mainly to an enhance in revenue in Japan and the US offsetting falls in Europe and Asia.

Vehicle device revenue increased by one,000 to 809,000 globally.

Operating profit rose JPY89.4bn to JPY123.1bn owing to an enhance in profit similar to alterations in revenue volume and product combine and price tag reductions. This was in spite of an enhance in SG&A expenses. Operating profit margin also increased.

Put together with running profit from fiscal services business similar to automobile revenue, the approximated running profit for the automobile business was JPY205.4bn.

Nine month sales earnings fell JPY1.926.2bn to JPY9,546.7bn owing to a reduce in revenue earnings from all organizations as a outcome of the influence of the COVID-19 pandemic.

A reduce in demand from customers owing to the influence of the COVID-19 pandemic saw consolidated running profit for the fiscal nine months slide JPY192.2bn to JPY447.0bn owing mainly to “command of providing, common and administrative (SG&A) expenses and price tag reduction attempts ensuing from a essential assessment of business functions conducted throughout the entire business”.

Internet profit fell JPY41.1bn to JPY444.1bn.

Honda revised its previously announced forecast for consolidated running profit for the latest fiscal yr (ending 31 March, 2021) upward by JPY100bn to JPY520.0bn. This was despite the influence of each the COVID-19 pandemic and the shortage of semiconductor source.

The previously announced forecast for net profit for the full yr was revised upward by JPY75bn to JPY465bn yen.