Honda's latest financial report is out, and it covers all three main segments of Honda's international business: Automobiles, Motorcycles, and Power Equipment.
Of those, Automobiles and Motorcycles are the two biggest segments. Since this is RideApart, we're of course concerned with only one of these categories.
So, how are Honda's motorcycle sales doing? Quite well, actually, and I'll let the OEM speak for itself here via its most recent report. "Sales results in YTD (April through September 2024) exceeded the same period last year due to firm demand in India and an economic recovery in Vietnam, despite a decrease in Thailand related to an economic slowdown."
Motorcycle sales are up, and automobile sales are down. But overall, Honda recently adjusted its financial outlook for the entirety of FY2025, due in large part to the strength of its motorcycle sales for the first half of the year.
That's right; worldwide motorcycle sales are what's actually buoying up Honda's overall financial outlook, even though automobile sales have been slightly down as compared to the same period last year. Who says the people don't like motorcycles?
Important Things To Know
There are three things to understand if you're looking at a Honda financial report. The first is that Honda's fiscal year runs from April to March, and is not directly congruent with the calendar year. So, the most recent financial results are for Q2 of FY2025, which ended on September 30, 2024.
The second is that Honda groups Motorcycle, ATV, and SxS sales together as "Motorcycle Sales." So, keep that in mind when you look at all the motorcycle sales numbers we'll discuss here. Considering how many different categories of automobiles that Honda makes and that are grouped together in the Automobile sales figures, it seems reasonable.
The third is that five international markets account for the majority of Honda's motorcycle sales consistently, year after year. Those markets are, going from largest to smallest: India, Vietnam, Thailand, Indonesia, and Brazil. If you've ever spent any time in any of these countries, try counting the Honda motorbikes you see sometime and you'll have an even better understanding than numbers or charts could ever give you. They're seriously everywhere.
So, without further ado, here are the sales. Since a single quarter doesn't tell you much, once again, I've pulled quarterly motorcycle sales data going back to Q1 of FY2023, and charted through to Q2 of FY2025, which is the most recent financial report available at the time of writing.
For the period this data covers, only Q2 of FY2024 and Q3 of FY2024 have been below the sales figures of the same time period during the previous year. For every other quarter, the sales have steadily increased.
If you're looking for a yearly breakdown, here are the yearly sales figures from FY2022 through FY2024. Keep in mind, because of the way Honda's fiscal years work, the most recent quarterly report was for Q2 of FY2025, which ended on September 30, 2024. Therefore, the full annual report for FY2025 was not yet available at the time of writing, and won't be available until May 2025.
Like many OEMs, Honda doesn't break down its sales figures by model within its financial reports. But it's worth remembering here that Honda offers motorcycles and scooters in all sizes and displacements, and carefully tailors its offerings to suit each international market in which it sells its motorcycles.
The Honda Wave 110 wouldn't make much sense in the US, but it's absolutely everywhere in major Southeast Asian cities like Bangkok and Hanoi. Prefer a small-displacement twist-and-go or an electric option instead? Don't worry, you can get one of those from Honda, too. It's all about offering a wide variety of choices that suit what the local market demands.
Not attempting to reshape the local market to suit a specific brand's image; instead, meeting the local market with what it wants and needs. I'm no business expert, but it sure seems like that's how you sell millions and millions of motorbikes.
