Honda joins other Japanese automakers in a delayed post-tsunami forecast. Percentage-wise, Honda expects to be much harder hit than Toyota. Honda expects a net profit of 195 billion yen ($ 2.43 billion) when the current fiscal year ends in March 2012.through March. Last year, there were 534 billion yen ($6.65 billion) left below the bottom line. That’s a decrease of 63.5 percent.
Analysts are shocked. A post-quake survey of 20 analysts by Thomson Reuters I/B/E/S yielded expectations of 407.2 billion yen ($ 5.07 billion.) As in the case of Toyota, analysts vastly underestimated the impact of the tsunami, the high yen, and the rise in raw material prices.
The outlook is much weaker than the Y385.43 billion mean estimate in a survey of 20 analysts compiled by Thomson Reuters.
Honda expects its worldwide sales of cars to drop by 212,000 units from 3.512 million in fiscal 2011 to 3.300 million units in fiscal 2012.
“The limited supplies of parts is affecting the production of the new Civic.We are still not able to procure enough electronic devices for some high-end models,” Honda CFO Fumihiko Ike, told The Nikkei [sub] at a press conference today.
Honda thinks its production in Japan will return to normal by the end of June. Overseas production will take several more months before it runs at full capacity.
Note: The financials are for all Honda products, including motorcycles and generators
Is that by the Ontario plant?
I don’t think so. That doesn’t look like an Ontario roadsign, nor a North American tractor, and the Alliston plant doesn’t make CR-Vs.
That’s probably in Europe.
It’s the plant in Swindon, England. CR-Vs bound for Europe are made there, and in the CR-V’s previous generation, ones for the US were made there, too.
Here’s the location on Google Street View: http://goo.gl/maps/AaGl
Yep, I’d say UK.