Mazda and Honda's Profit Boosts!

There might be plenty of Vernon Hyundai Service Specials being offered right now, but is the company reporting the sales profit figures like that of Japanese auto brands right now?  Honda and Mazda have both had incredible sales growth, and that is going against the grain of a recovering Japanese yen.  The cars at Manchester Mazda have been selling quickly, and they are selling just as well in their domestic land.  Honda is reporting that their profits have doubled while Mazda’s profits have increased by ten times what they were last year!  It is unclear how the sales of Concord Mitsubishi vehicles are doing at this time and they will likely report their sales later. 

The auto sales in the United States have increased by about 10% on average, so that is likely helping import brands have high sales profit figures.  Honda just finished their second quarter with 135.93 billion yen, which equates to $5.6 billion.  Last year their second quarter profits were only 54 billion yen, so their sales profits have more than doubled.  As a result, they have increased their profit forecast and estimate that by March 2011 the total profit will be 500 billion yen (or $6.2 billion).  If Honda meets that goal then their sales will have gone up by 86% compared to 2009.

While the exact percentage of sales for Mazda vehicles in the U.S. hasn’t been reported, the growing popularity of the Zoom, Zoom brand has likely had a significant effect on their profit increases.  Mazda is reporting their second quarter profits to be 7.62 billion yen, which is equivalent to $94.4 million.  Of course those numbers aren’t as high as what we saw with Honda, but remember that last year Mazda only reported 707 million yen for their 2009 second quarter profits; that means they have increased sales profit by more than ten times! 

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