Honda sales and profits grow

Manufacturing News, Source : TheManufacturer.com
Published : 27 Apr 2005 14:14

Japan’s global motor manufacturer Honda, increasingly a thorn in the side of US giants like Ford and GM, has reported six per cent growth in sales and a near five per cent hike in profits for the year ended March 31.

Profits, at $4.5billion, were up 4.7 per cent from the previous year while sales amounted to $80.5 billion, an increase of six per cent from the previous year. World-wide motorcycle sales increased 13.9 per cent with particularly strong sales in Asian countries like Indonesia and India.

Car sales for the year increased by 8.7 per cent due mainly to increased unit sales of parts for local production in China, and increasedsales in Europe and North America.

Sales revenue in North America increased by 0.7 per cent to $43.8 billion due mainly to increased unit sales in the automobile and power product businesses, which offset negative currency translation e ffects. In Europe, revenue for the year increased by 10 per cent to $9.7 billion due mainly to increased unit sales in the motorcycle, automobile and power product businesses and a positive impact of currency translation effects.

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