Honda posted a $74.3 million profit for the quarter that ended June 30, but the Japanese automaker says that its North American market is in a tougher spot than the figures would indicate. Regional earnings were hurt in part due to declining production that boosted the automaker’s fixed costs.
North America, typically Honda’s most profitable market, will unlikely break 1.3 million units during the full fiscal year that ends March 31, 2010. Previously, Honda had predicted sales would be at around 1.35 million cars.
Worldwide, Honda’s operating profit fell 88 percent to $263.7 million during the quarter. Honda has recently upped some production and has seen some sales success in its home market from the Insight hybrid, so it has increased its global sales projection from 3.21 million cars to 3.295 million.
Meanwhile, Honda announced a recall of more than 300,000 U.S.-built Civic and Accord sedans and coupes to fix airbag deflators that could produce excessive pressure. The deflators, made by Takata Corporation,were installed in about 306,000 North American-market 2001 model year Accords and Civics, as well as 1,500 Japanese market cars.
The airbag deflator was not used by other automakers or in other Honda model years.
07/29, 11:21 AM
posted by:
iluvamcars
Bad and good news! You do the math to figure which goes with which.
07/29, 11:29 AM
posted by:
Struggle
Profit for Honda = Good
Sales suck in the US = Duh
07/29, 11:36 AM
posted by:
Bubs Solo
Huh??? Recall??? Zoiks Shaggy!!!
07/29, 11:41 AM
posted by:
superman
Give us the new NSX
07/29, 11:42 AM
posted by:
Bosley
I wonder if the gas prices were 50% higher, like they were this time last year, would Honda sell more of its fuel efficient cars, especially the Insight? I personally think so,……
Honda should produce a rear-wheel-drive gas-guzzling V6 or V8 for the US market, they’d sell tons!
I don’t think there’s much Honda or any other company can do to revive sales to what they were. Rather they all need to become profitable with less sales (ie cost cutting), as they will not come back to those sales levels for years, and most companies can’t wait that long….
07/29, 11:42 AM
posted by:
scratchy
why not slap the Acura badge on all Hondas and make more profit ?
07/29, 11:56 AM
posted by:
Bankruptcy2009
You know if Honda is hurting with a good product portfolio then so is everyone else.
07/29, 12:12 PM
posted by:
bcjohnso99
Nice.
Turn a profit but don’t give me any break on the cost of replacing the fried tranny in my 6 year old Pilot.
07/29, 12:32 PM
posted by:
mayer_ray_nagin
1.3M cars? They won’t hit 1.1M this year.
07/29, 12:40 PM
posted by:
johnnycanuck
There’s only one new Honda or Acura that can make me do a double take if I see it and that’s the Accord coupe. I’m sure they’ll find some way to ruin that soon enough the way they’re going.
07/29, 1:10 PM
posted by:
07grandprix
I agree Johnny, seems like the Accord coupe is the only Honda worth looking at these day’s. Come to think of it, it’s the only Honda i’ve ever taken a double take since the NSX.
07/29, 1:27 PM
posted by:
mayer_ray_nagin
You guys like the back end of the Accrod Coupe? I think it looks fat, fleshy, and a bit dumpy. The rest looks okay and the Coupe headlamps dont do that retarded protrusion mess that the Sedan’s do.
Accord interiors still look and feel cheap, though. Hard plastics abound along with larg font stenciling for button identification that looks like a first grader did it.
07/29, 1:34 PM
posted by:
Borat
MRN, that fascination with rear quarters is conspicuous. You want to see nice ars, look at Kendra’s. And what the complaint about hard plastic? Jaguar of 50-60’s along with Astons and Maserati’s all had hard wood! They were still great cars. I concur, that Honda’s vehicles are not the prettiest, but they all about utility and long lasting quality (when not recalled
)
07/29, 2:07 PM
posted by:
christianboy10
profit weak because they stop all the good cars and giving us these ugly POS lately and it going to get worst..
07/29, 2:36 PM
posted by:
mayer_ray_nagin
Borat, I like tight rear quarters.
Tight rear quarters deliver quality and utility to my long lasting hard wood every time.
07/29, 5:31 PM
posted by:
RICERisNICER
“Slumping Demand to Keep Japan’s Big Three in the Red.” Hell NO!
I love you Honda.
07/29, 6:47 PM
posted by:
leftwingagenda
mayer i think it’s a relative thing…for a honda, the accord coupe looks good, even though you might not be into the big chunky sloping rear end…it looks like a big fat car for 2 doors, for sure…pretty chunky…but on the honda scale of edgy design, it’s the best thing they’re making right now…all relative
07/29, 11:47 PM
posted by:
Veda
“Accord interiors still look and feel cheap, though.”
What do you expect for $25.6K brand new for the EX-L 3.5 without NAV?
07/30, 2:07 PM
posted by:
jackjimturkey
at least SOMEBODY’s making money