The fourth quarter of the fiscal year ending March 31st 2009 took its toll, with Honda losing almost $1.9 billion during this time. However, despite the grim outlook, Honda expects to stay in the black for the current year, defying forecasts it could plunge to its first ever annual loss since its founding back in 1948.
The U.S. was one of the worst affected markets for Honda, with sales in March alone dipping 36% to just over 88,000 vehicles. This compares with an annual decline in Honda’s global sales of about 17% - the first decline in almost nine years.
Still, Honda stands to bounce back faster than many of its rivals due to a product range that centers on compact cars and hybrids, a lineup that is more attune to current consumer trends across the globe. Some important models include the compact Civic and Fit (Jazz), as well as the new Insight Hybrid.