American Honda’s fiscal first quarter reports, which concluded on June 30, showed sales growth and retail share increases in the U.S., according to the company’s earnings call transcript.
Overall, Honda’s net sales and operating revenue grew 16.3 percent to JPY 2.8 trillion this fiscal quarter, year-over-year. Operating income for the first fiscal quarter of 2014 showed an increase of 5.1 percent, JPY 184.9 billion, when compared to the same period last year. Net income dropped 7 percent to 122.4 million, which is a result of a number of factors, including a decrease in sales volume and model mix. However, currency effects due to weaker yen helped to boost earnings.
In North America, motorcycle sales grew 5.1 percent to 62,000 units.
Honda has reported a decline in ATV retail sales year-over-year with the continuing rise in popularity of SxS models and the excitement around the releases of Honda’s 2014 Rancher, Foreman and Pioneer UTV models.
The company forecasts a positive operating income of JPY 780 billion for the fiscal year 2014. Honda also expects to see a positive net income attributable to Honda Motor of JPY 580 billion. These numbers have remained the same since the company’s forecast was first announced on April 26.
