This morning, Japanese auto maker Honda is announcing its fiscal first-quarter sales, detailing how while the company did from April to June of this year. According to the automaker, Honda’s net income for the first quarter was around $31.7 billion, down an astounding 88% from last year’s numbers – in general, as U.S. shoppers are buying less new vehicles, demand for pre-owned models is high, with the average blue book price for a used Honda car at highs over climbing during the past year.
In this morning’s press release, Honda staffers try to dissect the numbers to figure out how events throughout the first part of the year have impacted the company. One of the strongest aspects of Honda’s business, according to its leaders, is strong sales of motorcycles. However, in the auto market, sales have declined, partially due to the earthquakes in Japan that shook corporate supply chains and temporarily halted some operations there. Honda staffers say that currency exchange issues also helped to depress revenues earlier this year.
As for the second half of 2011, Honda projects an estimated sale of 3 million cars, not to mention over 12 million motorcycles. Company spokespeople point to an increase of sales in Europe, Asia and Japan, which are helping to counterbalance lower sales in the United States.
One strategy that Honda leaders are hoping will help spur increased vehicle still stateside is the emergence of new and improved vehicles like the Honda Pilot and Honda CR-V, two winning SUV models that are going to get redesigns for 2012. The Honda Fit and other vehicles are also offering competitive mpg in their classes and much more, in efforts to reach out to the American car buying audience and entice shoppers to go with this traditional quality brand.
If you’re in the market for a new or used Honda vehicle, take advantage of rebates and incentives that this company is offering to drive higher sale items on the North American market. It’s also a good idea to look at current interest rates for financing, to be able to get more of what you want with less future debt attached to your purchase. Take a good look at what third party lenders are offering before heading to the dealership, and you can save yourself a good deal of money on one of Honda’s award winning rides.