Financial Services business recorded revenue from customers of
JPY533.5bn (£2.6bn) for the twelve months to March 31 2008, up 30.2
per cent on the result from the same period last year.
Operating income rose
by 2 per cent to JPY117.8bn (£574m), with revenue growth offsetting
increased selling, general and administrative expenses.
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The lion’s share of Honda’s financial services businesses’ sales
came from the North America operation, Honda Finance Corp (see
table 1), where year-on-year net sales rose by 33 per cent to
JPY483.9bn (£2.4bn), although all international regional groups saw
sales increase, with particularly strong growth in Asia (excluding
Japan), up 57 per cent.
Its European business, Honda Finance Europe, grew net sales by 5
per cent in the twelve months to March 31 2008 compared with the
same period the previous year.
Honda identified high levels of competition, increasingly from
“commercial banks and finance and leasing companies”, as a
potential risk in the future, along with “risks relating to
residual value, credit risk and cost of capital”.
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By GlobalData Motor Finance Issue: 43 – May 08
Published for the web: May 23 08 16:10
Last Updated: May 23 08 16:12
