Wednesday, July 26, 2006

Honda Profits Jump 29.6%

July 26, 2006

Satellite Standard Group keeps you informed.

Honda, who exclusively installs XM Satellite Radio saw impressive quarterly results. Sales of Honda have been very strong, and the popular brand surely adds a healthy number of subscribers to XM Satellite Radios base.

Article Excerpt:

TOKYO (AP) -- Profit at Honda Motor Co. jumped 29.6 percent during the quarter through June on booming sales of its fuel-efficient models in North America and Asia.

Net profit at Honda grew to 143.4 billion yen ($1.2 billion) in the fiscal first quarter, up from 110.6 billion yen the same period the previous year, Japan's No. 3 automaker said Wednesday.

Quarterly sales climbed 14.8 percent to 2.6 trillion yen ($22.3 billion) from 2.26 trillion yen a year earlier.

Honda is getting a robust lift from the popularity of its vehicles around the world, especially the Civic sedan and Fit compact in the U.S., where soaring oil prices are making smaller cars more attractive.

The automaker chalked up its sixth straight record for first quarter earnings and sales.

Interested SSG readers can read the entire article HERE via Yahoo Finance