Honda has completed a successful quarter, escaping the bloodbath reported by Nissan and other struggling automakers amidst the ongoing trade war and other woes.
Top line figures include a 17% percent increase in profits versus Honda’s previous quarter, the results of improved North America and Asia sales, with a 3 percent global sales increase to 1.3 million units.
With delayed production out of Mexico due to recent floods ( a 75,000 unit hit), and lower-than-anticipated sales in China, and the rise in U.S. tariffs on imported cars, sales were still healthy.
“Roughly 90 percent of our steel and aluminum needs in the United States are procured locally,? said Kohei Takeuchi, Sr. Managing Director. ?Overall we’re not seeing a big impact (from tariffs) so far.”
One of the reasons for Honda’s success is improved Pilot sales, with its production increased more than its compact and midsize Civic and Accord, which has seen reduced demand against SUVs and trucks.