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Jul 25, 2008 11:20 AM
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Honda Motor Company managed an impressive 8.1% increase in net income in the first quarter, bringing total quarterly income to $1.69 billion. Honda managed this despite quarterly revenue dropping by 2.2% to $29.64 billion. So why are Chrysler and Ford losing money hand over fist and Honda making money with despite having to deal with the same rising material costs and decreasing sales in the U.S. market?
Jalopnik Snap Judgement: As with GM and especially Ford, Honda is buoyed by sales in other Asian markets and South America. The company also has motorcycle sales to lean on. But the biggest difference, though, is something we've mentioned earlier that Ford and GM both need. That's right, it all comes down to product. Honda has a strong portfolio of smaller, affordable and fuel-efficient cars in the Fit and Civic — and they don't have to significantly realign their mix or offer crazy incentives to maximize profitability. [Source: Honda Motor Company, MarketWatch]
Send an email to Matt Hardigree, the author of this post, at matt@jalopnik.com.
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