On August 9, 2023, Honda announced its FY2024 Q1 financial results, for the period spanning April through June 2023 (yes, you read the year correctly; it’s Honda’s reporting structure). All segments of the business (motorcycles included) saw profits go from 149 billion yen in 2023 Q1 to 363 billion yen for the current reporting period. If converted into US dollars, that’s approximately $1,030,171,100 in FY2023 Q1 and $2,509,854,600 in FY2024 Q1.
Honda FY2024 Q1 Motorcycle Sales Worldwide
Where do Honda motorcycle sales fit into this picture? As it happens, Honda motorcycle sales worldwide figure quite strongly in the current state of Honda’s finances. We should also note here that Honda includes its ATVs and side-by-sides when figuring its total motorcycle sales.
In FY2024 Q1, Honda reported worldwide motorcycle sales of 4,473,000 bikes, totaling about 143.5 billion yen (or about $992,194,875). That’s a 5.2 percent increase year-on-year over the 4,251,000 bikes sold in FY2023 Q1, which tallied about 97.8 billion yen (or about $723,915,600 at August 2022 conversion rates).
Top Sales by Country
Where did Honda sell the most motorcycles in FY2024 Q1? India was still the top country on the list by the numbers, although it did sell comparatively fewer bikes there than the same period in 2023. In total, Team Red sold 952,000 bikes in India in Q1 2024, which it says is about 95.7 percent of the amount sold in 2023.
The next strongest country in terms of 2024 Q1 sales numbers is Vietnam, where Honda moved 506,000 bikes. That’s about 95.1 percent of the number sold for the same period in 2023. Third on the list is Thailand, where Honda sold 395,000 bikes in 2024 Q1—or 118.3 percent of the number sold in 2023 Q1. Rounding out Honda’s top five countries for motorcycle sales in 2024 Q1 is Brazil, where the brand sold 271,000 bikes, or about 98.6 percent of what it sold in 2023 Q1.
Overall, Honda sold more bikes worldwide in 2024 Q1 than it did in 2023 Q1, but each sales region had slightly different factors that Honda says had significant sales effects. It credits semiconductor shortages with a negative sales impact in India, while a recession in Vietnam put a damper on sales there. However, as motorbike production recovered in Indonesia, Honda says that sales in that country grew as a result.
Sales by Geographic Region
For recording purposes, Honda divides sales up into five regions: Japan, North America, Europe, Asia, and Other Regions. In 2024 Q1, Honda sold 58,000 motorcycles in Japan, which is 2,000 more bikes than it sold in 2023 Q1. Over in North America, it sold 120,000 bikes, which is 10,000 more than in 2023 Q1. Europe saw impressive 2024 Q1 sales gains at 119,000 bikes, which is 3,800 more than the 81,000 sold in 2023 Q1.
However, it’s the rest of Asia (minus Japan) that saw the most impressive gain. In 2024 Q1, Honda recorded total motorcycle sales for the region at 3,781,000, which is 196,000 more bikes than it sold for the same period in 2023.
In other regions, 2024 Q1 motorcycle sales were 395,000 bikes, which is down 24,000 bikes from the same period in 2023. Still, the growth seen in the first four reported regions meant that worldwide, Honda saw a 5.2 percent rise in motorcycle sales for Q1 of 2024.
