The year 2010 has started off as a financial success for the Honda Motor Company who has seen profits with a net income of just over 72 billion Yen in Q1 of January-March. Honda were hit by the recession hard back in 2009 when in the same period, they saw a loss of nearly 179 billion Yen but are celebrating the improved situation this year.
Honda Motor Company was originally set up in the late 1940’s by Japanese entrepreneur Soichiro Honda who aimed to produce a cheap method of transport for those after the Second World War. The company found a niche in the production of Motorcycles and release the ‘C’ model which was considered a success. This led to the production of what was later known as the ‘Dream D’ model which was an inexpensive bike with three horsepower and two-speed transmission. Honda then continued on his journey to produce a vast array of machines and Honda motorcycle parts which resulted in the eventual trust of the consumer and financial success.
Having moved on significantly both in technological advances and history, Honda have celebrated great success this year. This is due to many factors including a great increase in the operations of Asia which increased by 28.2%. This is due to both increased numbers of motorcycles and automobiles sold, as well as the changes in currency translations.
For the last financial year ending 31st March 2010, Honda released figures of a 95.9% increase in net income and the company’s revenue for this year amounted to 8.57 trillion Yen. This was still a decrease compared to that of the fiscal year 2008-2009, but still shows good recovery. The company are now expecting a net income of 340 billion Yen for the next financial year 2010-2011, with projected sales of 9.34 trillion Yen. The company’s motorcycle sector showed sales of 2.6 million units for the January-March period which is an increase in 30% compared to that of last year.
Honda are hoping to continue this success in order to reach their projected targets for 2011 and are set to make great profits next year. This reflects how the company has worked to gain even more market share within the automobile and motorcycle industry. With their range of high quality Honda motorcycles released this year as well as Honda motorcycle spares and accessories, they are looking to increase this share even further and remain one of the biggest motorcycle manufacturers the World has even seen.
In order to purchase any of the Honda products, you will need to head to one of the many local Honda motorbike dealers who will stock a wide range to choose from.