Honda Profits Drop 81% In North America And 41% Globally In Second Quarter

A double whammmie

— Agent009 (View Profile)

Posted on 10/28/2008 11:03:48 AM | reply to this comment | Votes: 1   

I guess now that the Yen/Dollar exchange rate is more favorable for U.S. exports to Japan Chevy will start to sell a lot of Malibus over there. Watch out Toyota Camry.

— TurboSpyder (View Profile)

Posted on 10/28/2008 11:10:33 AM | reply to this comment | Votes: 1   

TurboSpyder,

Nothing would make me happier but let's be reasonable here, Japanese have some sort of national pride, unlike so many Americans who despise anything American.

— neutral (View Profile)

Posted on 10/28/2008 1:11:39 PM | reply to this comment | Votes: 2   

neutral- you can call that educated choices, nationalism, pride, ignorance or prejudice depending on how you look at it.

No one nation makes the best of everything, however the Japanese make some of the best consumer variety cars in the world.

— Agent009 (View Profile)

Posted on 10/28/2008 4:52:14 PM | reply to this comment | Votes: 2   

They don't deserve anything bad to happen to them. They were the first company to bring out a hybrid (Insight) when others brought out big bitches like the Suburban/Escalade/Tahoe.

— AmazonPrinceIS350 (View Profile)

Posted on 10/28/2008 3:41:40 PM | reply to this comment | Votes: 2   

This is surprising. I see so many people in Cali buying new Honda and I was considering leasing one since I do not want to own it. Then I noticed leasing one and buying one are nearly the same!?! So forget it.

Still solid cars though.

— Porschinator (View Profile)

Posted on 10/28/2008 6:35:20 PM | reply to this comment | Votes: 2   

err 009, where's the link? i can't seem to find the article in the website..

— sulev (View Profile)

Posted on 10/29/2008 8:28:11 AM | reply to this comment | Votes: 1   

Maybe if Honda was not so stingy on their pricing. They never give any discounts, never any price points or incentives. Nothing of the like. I know they don't really HAVE to because the bottom line has always been "it's a Honda." cause of their reliability and low cost of ownership. But something needs to be done.

I have had many a friend turn from Honda because when they go in for their next model or a trade, they get nothing in return, so they go to Chevy or Toyota or Nissan and get a great car at a much better price point. Spending a few extra grand on a Honda just for resale is dumb, because you are not going to get that full amount back when the time comes to sell it.

— Whelan (View Profile)

Posted on 10/29/2008 9:51:43 AM | reply to this comment | Votes: 2   

Great news!! That's what happens when you build boring, lifeless, FWD appliances. Honda and Toyota are starting to look more and more like an American car company. Their falling stock prices back up that assertion.

— LexSucks (View Profile)

Posted on 10/29/2008 12:48:17 PM | reply to this comment | Votes: 2   

i'm surprised because the new Pilot touring is doing extremely well.

— wanga (View Profile)

Posted on 10/29/2008 7:13:12 PM | reply to this comment | Votes: 1   

It's pretty evident a lot of peopl on this site are clueless about economics and financing.

Stocks are merely a peice of paper. Unless you can sell it or it pays a divident, the stock has no true value.
How many people do you think willingly bought VW stock when it was at 1100 Euros? Those who hung on now have 500 Euro VW stock. You're rich on paper, that's it.

Stock prices have shown to not reflect how a company performs. Before all the banks tanked, their stock was worth pretty good. They were dying but until someone knew it, their stock was still considered valuable.

A small company with a $10 stock and $.50 divident is more valuable than an inflated $100 stock paying nothing.

Part of Honda's problem is that they've had low rates for a long time (3.9% instead of 6.9%). Toyota will take a hit and see lower profits (but still a profit) because of their 0% but they figure might as well keep people working since that's what they're paid to do. They still make money on each car, just lose out on the financing.

I agree, Japan needs to open their market but I doubt US cars would sell there.

People are so short sited too. When the Yen was 300 vs the dollar, Japanese weren't doing as well (according to the blame game, they should've been cleaning up). Now that its hovering around 120, people complain about currency manipulation.
The greenback has been appreciating against all major currencies except Canada's, so the Germans are benefitting from the depreciation as well.

— huu76 (View Profile)

Posted on 10/29/2008 10:34:53 PM | reply to this comment | Votes: 1