Honda president Takanobu Ito expects record earnings in five years

Article by Anita Panait, on January 27, 2012

Takanobu Ito, president of Honda Motor Co., forecasts that the company will achieve record earnings in at least five years, driven by sales of Civic compacts and Accord sedans in North America. Ito also forecasts that the company’s operating income in the year ending March 2013 will track back to levels before the September 2008 failure of Lehman Brothers Holdings Inc.  Six months before Lehman’s bankruptcy filing in 2008, Honda posted record annual profits.

"It will be the year of the complete rebound," said Ito, adding that he expects sales to climb above 4 million units for the first time in 2013. Ito said Honda’s recovery will be led by sales in North America as the company prepares to roll out a fully revamped Accord in the fall.

Ito's forecasts are well above analyst estimates compiled by Bloomberg, reflecting the renewed confidence by Japanese carmakers as they recover from the disaster-ridden 2011, with natural tragedies hitting Japan and Thailand. According to estimates compiled by Bloomberg, Honda's operating income will probably double to 586.6 billion yen ($7.6 billion) next fiscal year after dropping 52%.

Honda posted earnings of 953.1 billion yen, 851.9 billion yen and 868.9 billion yen, for fiscal years ended March 2006, 2007 and 2008 respectively. Toyota Motor Corp. said this week that its 2011 sales will be 100,000 units higher than it forecasted in December 2011. [source: Autonews]

Topics: honda

If you liked the article, share on:


Login or Create new account to add a comment!


It wasn’t too long ago when Maserati took the wraps off what appears to be the most gorgeous concept coupe ever made. The Alfieri coupe premiered at the 2014 Geneva...
by - October 23, 2016
Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016