Honda has announced its first quarter results for the fiscal year, and has reported a 29.5% drop in its first quarter profit. The automaker recorded a profit of 172.3 billion yen (RM6.7 billion) for the April-June period, down from the 244.3 billion yen (RM9.5 billion) it achieved in the same period last year.
The company lowered its profit forecast for the fiscal year 2020 to 645 billion yen (RM25.09 billion) from an earlier forecast of 665 billion yen (RM25.8 billion), but expects operating profit to increase by 6% to 770 billion yen (RM29.95 billion) for the fiscal year.
Slowing sales in the US and a slowdown in the Indian market contributed to the decrease in profit. The company’s US sales fell to 407,000 vehicles over the three-month period from 425,000 vehicles a year earlier, Reuters reports.
The company also lowered its forecast for global sales in the year to March 2020 to 5.11 million vehicles, having previously projected 5.16 million units. It sold a record 5.323 million units last year.
In May, Honda had stated that it was looking to cut global production costs by 10% by 2025 and scale back regional model variations, channeling savings into research and development, the report added.
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Huge losses seen in jaguar and tesla. Profits drop at nissan, honda, mazda. This the best time for P1 to go all out global carmaker. Gudluck !
Ouch !!!
Honda slowdown means Honda Malaysia also slowdown. Habis lah DRB. That is their cash cow.
Now Proton not making money….Honda also not making money…..
Proton not making money normal lah. Can just ask from the new Gov.
Btw, can anyone help me to solve “8÷2(2+2)”? I’m from UiTM but they never teach how to solve this simple equation.
Betuii. jepunis carmaker gotta hire china ceo 2.
Bad quality finished goods.. Not surprisely..
So right. Costly replacement for Honda CRV gear push knob button pulled down their profits
Actually they just been cars that arent up to par and losing out to the competition..
More pensip new gen Accord 1.5T incoming…
Only in Malaysia Honda sales goes from strength to strength.
when Mazda announced their poor Q1 revenue, everyone assume they screwed up due to them abruptly shifting upmarket with the new Mazda 3. FACT is the world economy is going downtrend ever since oil price dip below USD70. Auto industry is already at its peak in 2018, with Ford, Nissan and all other major players announced mass layoff. Heck even JLR been losing it for the past 3 years.
Predict vehicle sales data in July 2019:-
1) Perodua 18400 units
2) Proton 8700 units
3) Honda 7200 units
4) Toyota 5800 units
5) Nissan 2400 units
Selling more but lower profit? I wonder how or why.
A lot discounts offered, to boots sales lol brother
Honda is badly hit in Malaysia. Perodua MYVI hits their Jazz, Perodua Rus hit their BRV, Mazda CX3 hit their HRV. TOYOTA CHR hit their HRV, MAZDA CX5 hit their CRV, PROTON X70 hit their CRV, Camry hit their Honda Accord. TOYOTA Vious hit their CITY. Honda Civic very lousy design … back seat sinking too low also hit by CAMRY and Nissan Almeara. Semua lingkup.
CX-3 hit HRV? Impossible. HRV is super practical. CX-3 is for hobbits. CH-R is for Altis owner that want to cramp themselves.
Honda cash cow is still HRV and City.
Those that affected are BRV (vs Aruz),
CRV (mainly X70 and CX-5, then some X-Trail and Innova), and
Accord (vs Camry, and some model of conti, as well as Fortuner).
because your cars are ugly, just look at that crab-faced accord
How come I just cannot post comments here now? Must I register?
When you maka ur car so ugly what did u expect? U think ur Manga car so hip so u price ur cars and sell to juvenilez? Lolz!
Even the other bogan brands have to create ugly cars like Proton, Toyotah, Peroduah, etc just to convince some customers to buy theirs ugly over the Kimchi duo. Honda think their cars so coolz? Double lolz!