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Old 10-22-2009, 08:16 AM   #1
AVANTI R5
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Default Honda to post $660 million first-half profit, report says

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TOKYO (Reuters) -- Honda Motor Co. will likely post an operating profit of 60 billion yen ($660 million) for the April-September first half, beating its forecast for a loss on cost-cutting and solid sales of fuel-efficient cars, the Nikkei business daily reported on today.

The reported first-half figure implies an operating profit of 34.8 billion yen for the July-September quarter, which would be below the average estimate for a 41.7 billion yen profit in a poll of 5 analysts by Thomson Reuters.

Honda said in a statement the Nikkei's figures were not based on anything announced by the company. Honda is scheduled to announce its first half results on Oct. 27.
First-half sales at Japan's second-largest automaker likely fell 30 percent to 4.1 trillion yen, beating the company's forecast for 3.92 trillion yen, the Nikkei said.

Car sales in Japan increased 1 percent in volume terms, helped in part by government tax incentives for fuel-efficient cars. Car sales were also solid in emerging markets, the Nikkei said.

Honda's motorcycle division also performed well, helped by growing demand in India, the Nikkei said.

The carmaker's results were also boosted by a weaker-than-expected yen in the July-September quarter, the Nikkei said.

Honda is now expected to record an operating profit of more than 100 billion yen for the full year to March 2010, beating its forecast of 70 billion yen, the newspaper said.
http://www.autonews.com/article/2009...310229970/1272
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Old 10-22-2009, 08:18 AM   #2
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Default Hyundai humbles Japanese rivals with record Q3

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SEOUL (Reuters) -- Hyundai Motor Co. beat forecasts with a record quarterly profit as government incentives fueled strong global sales of its cheap, fuel-efficient models, setting the bar impossibly high for its struggling Japanese rivals.

Hyundai's tripling in third quarter net profit comes as the global industry struggles to emerge from an unprecedented downturn that drove Chrysler Group and General Motors Co. to bankruptcy.

Honda Motor Co. is the only major Japanese carmaker expected to post an operating profit in the fiscal first half, the Nikkei business daily reported today.

Hyundai has taken advantage of the turmoil, ramping up its marketing spend to gain market share. It now looks set to challenge Germany's Volkswagen AG as the most profitable of the world's major carmakers this year.

Amazing earnings
"These are amazing earnings," said Kazutaka Oshima, CEO at Rakuten Investment Management in Tokyo. "The figures reflect Hyundai's increased share in the Chinese and North American markets, and that's a threat to Japanese automakers."

But Hyundai warned a firmer won, rising oil prices and higher interest rates might hit earnings in the months ahead and its shares were little moved after a 50 percent surge in the third quarter.

"Third-quarter earnings came very strong and the fourth quarter could be also excellent, thanks to the new model launch, but momentum is likely to slow next year," said Choi Jong-Hyeok, a fund manager at Midas Asset Management. "It will be difficult to beat this year."

Hyundai overtook Ford Motor Co. to become the world's fourth-largest automaker by sales in the first half of this year when combined with affiliate Kia Motor Corp.
Hyundai's Genesis sedan and revamped Sonata have proved popular, while earlier schemes offering U.S. buyers the chance to return new cars if they lost their job or to fix in fuel prices for a year also won admirers.

Hyundai posted a net profit of 979.1 billion won ($832 million) in the third quarter, more than three times the 264.8 billion won of a year ago and beating a 616.3 billion won forecast by 11 analysts in a Reuters poll. Net profits were boosted by equity gains from overseas units, the company said.

Its operating profit of 586.8 billion won beat a forecast for a 561.2 billion won profit and sales rose 34 percent to 8.1 trillion won.

Higher full-year profit
Analysts are likely to raise estimates for Hyundai's full-year profit, centered around $1.7 billion, following the results. Only VW is expected to post a higher annual net profit, at around 1.3 billion euros ($1.95 billion).

Hyundai shares closed down 0.5 percent after the results, having far outperformed a 14.5 percent gain in the country's main KOSPI Index in the third quarter.

But both Hyundai and the broader index have lost ground since amid concerns over the impact of a stronger won.
The won is recovering on the back of weakness in the dollar. It gained 8.1 percent versus the dollar in the third quarter and is up 36 percent since early-March.

Rivals struggle
Hyundai's rivals in Japan are also struggling to cope with a weak dollar and their reliance on the United States and their home market, both of which are struggling with the weakest demand in decades.

World No. 1 Toyota Motor Co. is expected to post an equivalent quarterly net loss of around 25 billion yen ($275 million) when it reports early next month.

The Nikkei said Honda, Japan's No.2 behind Toyota, will likely post an operating profit of 60 billion yen ($660 million) for the April-September first half, beating its forecast for a loss on cost-cutting and solid sales of fuel-efficient cars.

Honda's reported first-half figure implies an operating profit of 34.8 billion yen for the July-September quarter, which would be below the average estimate for a 41.7 billion yen profit in a poll of 5 analysts by Thomson Reuters.

Honda reports next week, with Toyota and No.3 Nissan Motor Co. following the week after.

European automakers' third-quarter results have largely met expectations thanks to government incentives boosting sales, but shares have struggled on concerns about next year.
http://www.autonews.com/article/2009...310229971/1272
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Old 10-22-2009, 08:41 AM   #3
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They're smart puppies, for sure. Good for them.
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Old 10-23-2009, 10:06 AM   #4
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Wirelessly posted (Q: Mozilla/5.0 (Linux; U; Android 1.6; en-us; T-Mobile G1 Build/DRC83) AppleWebKit/528.5+ (KHTML, like Gecko) Version/3.1.2 Mobile Safari/525.20.1)

Have to imagine that C4C provided a nice boost, right?
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Old 10-23-2009, 08:23 PM   #5
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Originally Posted by HEDXTM View Post
Have to imagine that C4C provided a nice boost, right?
It seems to be only Honda, though... none of the other Japanese automakers are expected to post profits.

-Mike
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