Honda has reported its financial results for the first half of its fiscal year (April to September), showing growth in global sales.
The Japanese manufacturer achieved increases in North America, Asia, and Europe, bucking the downward trend seen among other major manufacturers. A total of 10 million units were sold, marking a 12% growth compared to the same period in 2023.
The growth was particularly notable in Asia, although there was a slight decline in Honda’s home market of Japan. ‘In motorcycle business operations, due to an increase mainly in Asia, sales totaled 10 million 382 thousand units’, the report reads.
Honda’s overall operating profit, across its various business segments, rose by 6.6%, driven by higher sales volumes that resulted in increased revenue. However, the company also faced higher costs for personnel and research and development, which led to a lower pre-tax profit.
The motorcycle segment specifically saw higher profits, an improved operating margin, and increased revenues compared to the same period last year.
Honda aims to reach over 20 million sales by the end of this fiscal year in March 2025, representing a projected growth of 400,000 units.