Honda Profits Drop 81% In North America And 41% Globally In Second Quarter

Honda Motor Co., Japan's second- largest automaker, said fiscal second-quarter profit fell 41 percent as vehicle demand in the U.S. plunged and the yen gained against the dollar, eroding the value of exports. The company cut its full-year earnings forecast.

Net income was 123.3 billion yen ($1.3 billion), or 67.96 yen a share, for the three months ended September, compared with 208.5 billion yen, or 114.94, a year earlier, the Tokyo-based automaker said in a statement today. Honda was expected to earn 131.4 billion yen, according to the median of three analyst estimates compiled by Bloomberg. Sales fell 4.9 percent to 2.83 trillion yen.

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Agent009 - 10/28/2008 11:03:48 AM

+1 Boost

A double whammmie

neutral - 10/28/2008 1:11:39 PM

+2 Boost

TurboSpyder,

Nothing would make me happier but let's be reasonable here, Japanese have some sort of national pride, unlike so many Americans who despise anything American.

Agent009 - 10/28/2008 4:52:14 PM

+2 Boost

neutral- you can call that educated choices, nationalism, pride, ignorance or prejudice depending on how you look at it.

No one nation makes the best of everything, however the Japanese make some of the best consumer variety cars in the world.

AmazonPrinceIS350 - 10/28/2008 3:41:40 PM

+2 Boost

They don't deserve anything bad to happen to them. They were the first company to bring out a hybrid (Insight) when others brought out big bitches like the Suburban/Escalade/Tahoe.

rawbux - 10/29/2008 2:41:39 AM

+2 Boost

Maybe that's what we want to buy, did you ever think a that? Maybe some of us love those vehicles! I'm glad Honda's gettin' hit they are sooo arrogant and think there s<>t don't stink!

Porschinator - 10/28/2008 6:35:20 PM

+2 Boost

This is surprising. I see so many people in Cali buying new Honda and I was considering leasing one since I do not want to own it. Then I noticed leasing one and buying one are nearly the same!?! So forget it.

Still solid cars though.

sulev - 10/29/2008 8:28:11 AM

+1 Boost

err 009, where's the link? i can't seem to find the article in the website..

Whelan - 10/29/2008 9:51:43 AM

+2 Boost

Maybe if Honda was not so stingy on their pricing. They never give any discounts, never any price points or incentives. Nothing of the like. I know they don't really HAVE to because the bottom line has always been "it's a Honda." cause of their reliability and low cost of ownership. But something needs to be done.

I have had many a friend turn from Honda because when they go in for their next model or a trade, they get nothing in return, so they go to Chevy or Toyota or Nissan and get a great car at a much better price point. Spending a few extra grand on a Honda just for resale is dumb, because you are not going to get that full amount back when the time comes to sell it.

LexSucks - 10/29/2008 12:48:17 PM

+2 Boost

Great news!! That's what happens when you build boring, lifeless, FWD appliances. Honda and Toyota are starting to look more and more like an American car company. Their falling stock prices back up that assertion.

wanga - 10/29/2008 7:13:12 PM

+1 Boost

i'm surprised because the new Pilot touring is doing extremely well.