Honda

Honda

Honda released its results for the first quarter of its 2020/2021 financial year (the period ending June 30) stating that, not surprisingly, "business stagnated and demand declined significantly on a global basis due to the COVID-19.

Total corporate consolidated sales revenue was 2,123.7bn yen (a year-on-year decrease of 46.9%) due primarily to a decrease in sales revenue from all businesses. Operating loss was 113.6bn yen (a year-on-year decrease by 366.1bn yen); loss before income taxes: 73.4bn yen; the impact of the COVID-19 is estimated to be approximately 440.0bn yen.
Honda's motorcycle business sales revenue was 274.2bn yen (a year-on-year decrease of 258.7bn yen), due primarily to a decrease in unit sales, mainly in Asia.

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Motorcycle operating profit was 11.2bn yen (a year-on-year decrease of 58.6bn yen). Despite a decrease in unit sales, profit was still made, primarily due to a decrease in R&D and SG&A expenses.
Consolidated unit sales of motorcycles were 1.221 million units, compared to 3.264 million for the year-ago quarter; for the 2019/2020 full year consolidated motorcycle unit sales were 12.426 million, and Honda is now forecasting 9.715 million for 2020/2021.