Honda sales still strong
#1
'Cooter
Thread Starter
Join Date: May 2001
Location: Shitside, Queens
Age: 47
Posts: 11,172
Likes: 0
Received 0 Likes
on
0 Posts
Honda sales still strong
Tokyo, Feb. 3 (Bloomberg) -- Shares of Honda Motor Co., Japan's No. 2 automaker, rose 5.3 percent after it reported record profit for the October-December quarter and raised its full-year earnings forecast on stronger overseas sales.
Honda shares rose 210 yen to 4,200 yen in Tokyo. About 4.7 million shares were traded, compared with a six-month daily average of 2.37 million. Honda was the third-most active stock by value on the Tokyo Stock Exchange.
Honda, the world's third-largest automaker by market value, expects a second straight record annual profit for the year ending March 31, propelled by U.S. sales of its Accord sedan and Pilot sport-utility vehicle, and rising European demand for Jazz compact cars. Japanese automakers are relying on new models to boost sales in the U.S. because they expect the market to shrink this year.
Honda Executive Vice President Koichi Amemiya said on Friday that he expects new car sales in the U.S. to shrink to little more than 16 million units in 2003, from about 16.8 million in 2002.
Honda Finance Co. bond due in 2007 fell 0.039 points to 100.286 per 100 yen face amount giving a yield of 0.410 percent on Friday, according to the Japan Securities Dealers Association. When sold in November they were priced to yield 0.47 percent.
Honda on Friday raised its annual net income forecast for the current business year to 430 billion yen ($3.6 billion) from its earlier prediction of 410 billion yen. It increased its sales forecast to 8 trillion yen, from 7.9 trillion yen.
The company also raised forecasts for current profit to 610 billion yen from 580 billion yen, and operating profit to 660 billion yen from 620 billion yen.
Other automakers' shares rose. Toyota Motor Corp., Japan's largest automaker, rose 3.5 percent to 2,955 yen to make it the most active stock by value on the Tokyo Stock Exchange. Mitsubishi Motors Corp. gained 2.5 percent to 283 yen, and Mazda Motor Corp. rose 1.6 percent to 252 yen. Nissan Motor Co. shares rose 1.3 percent to 925 yen.
Honda shares rose 210 yen to 4,200 yen in Tokyo. About 4.7 million shares were traded, compared with a six-month daily average of 2.37 million. Honda was the third-most active stock by value on the Tokyo Stock Exchange.
Honda, the world's third-largest automaker by market value, expects a second straight record annual profit for the year ending March 31, propelled by U.S. sales of its Accord sedan and Pilot sport-utility vehicle, and rising European demand for Jazz compact cars. Japanese automakers are relying on new models to boost sales in the U.S. because they expect the market to shrink this year.
Honda Executive Vice President Koichi Amemiya said on Friday that he expects new car sales in the U.S. to shrink to little more than 16 million units in 2003, from about 16.8 million in 2002.
Honda Finance Co. bond due in 2007 fell 0.039 points to 100.286 per 100 yen face amount giving a yield of 0.410 percent on Friday, according to the Japan Securities Dealers Association. When sold in November they were priced to yield 0.47 percent.
Honda on Friday raised its annual net income forecast for the current business year to 430 billion yen ($3.6 billion) from its earlier prediction of 410 billion yen. It increased its sales forecast to 8 trillion yen, from 7.9 trillion yen.
The company also raised forecasts for current profit to 610 billion yen from 580 billion yen, and operating profit to 660 billion yen from 620 billion yen.
Other automakers' shares rose. Toyota Motor Corp., Japan's largest automaker, rose 3.5 percent to 2,955 yen to make it the most active stock by value on the Tokyo Stock Exchange. Mitsubishi Motors Corp. gained 2.5 percent to 283 yen, and Mazda Motor Corp. rose 1.6 percent to 252 yen. Nissan Motor Co. shares rose 1.3 percent to 925 yen.
Thread
Thread Starter
Forum
Replies
Last Post
InFaMouSLink
Car Parts for Sale
7
10-27-2015 06:51 PM
sockr1
Car Parts for Sale
22
10-01-2015 01:31 AM
brandnewcolony
3G TL (2004-2008)
53
09-12-2015 10:39 AM