Posts Tagged ‘Honda profits 2018’

Honda Profits Soar 72% in 2018; Maker Predicts 2019 Drop

Declining sedan sales, stronger yen and dollar to crimp 2019.

by on Apr.27, 2018

Honda's concerned about the falling sales of sedans in North America, and it predicted falling profits in 2019.

Honda Motor Co. gaveth with its fourth-quarter and full-year earnings report and it tooketh away with its 2019 forecast. The Japanese automaker reported a 12% jump in its quarterly profit while its full year profits soared 72% due to changes in U.S. tax policy.

For the final quarter, Honda reported a profit of 107.7 billion yen, or $988 million, up from 95.9 billion yen a year earlier. Revenue for Q4 was 3.9 trillion yen, or $36 billion, an improvement of 4%. For the full year, the company saw profits of 1.06 trillion yen, or $9.7 billion, on revenue of 15.3 trillion yen.

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The company sold nearly 5.2 million vehicles around the world for the fiscal year, up from 5 million the previous fiscal year. The result was just slightly short of its forecast of 5.22 million vehicles. (more…)