As you’d expect from the world’s biggest motorcycle manufacturer, Honda has coped with ongoing supply-chain issues better than many of its competitors and its latest nine-monthly results demonstrate recovery at pace. BDN financial editor Roger Willis reports.
Global motorcycle business revenue for the April-December period of 2021 achieved 27.3% growth to £10.192bn. Operating profit soared by 52.5% to £1.478bn. Operating margin improved to 14.5%, from 12.1% in the equivalent three quarters of its previous fiscal year.Â
In harsh contrast, earnings eclipsed the Honda car division’s £1.199bn operating profit by a considerable degree — despite the latter having a turnover more than four times larger.
Honda-branded motorcycle, scooter and ATV sales volume worldwide rose by 20.6% to 12.775 million — encompassing 7.964 million from wholly-owned subsidiaries and those manufactured by joint-venture affiliates.Â
Asian markets accounted for 10.902 million machines, a 17.8% increase, as demand recovered despite Covid outbreaks in many of them. Most notable performer was Indonesia, surging by 74.2% to 2.921 million. India was 3.2% down on 2.56 million and Vietnam fell by 3.7% to 1.543 million. Thailand added 8.2% to 832,000. Elsewhere among emerging countries, Brazil bounced back by 42.6% to 733,000.
In the developed world, North American sales grew by 38.3% to 332,000. Europe was 50.9% up to 240,000. Japanese domestic volume improved by 16.1% to 180,000.
However, Honda has reduced its global bike sales volume forecast for the full year to 31 March 2022, from 17.5 million to 17.04 million. This nevertheless represents a predicted annual increase of 12.6%.
Yen-sterling currency translation at forex rates applicable on 10 February   Â