点 击 蓝 字 关 注 我 们 本文为中国汽车流通协会乘用车市场信息联席分会发布的权威深度市场分析报告，涵盖了： 一、总体市场 二、车型大类细分市场 三、国别细分市场 四、品牌定位细分市场 五、价格定位细分市场 体市场-狭义乘用车产销情况（2025年4月份） | | 类别 | 产量 | 批发 | HO | 零售 | | --- | --- | --- | --- | --- | --- | | 本田 | 轿车 | 1,003,055 | 957.043 | 108,781 | 821.392 | | | MPV | 85,847 | 93,884 | 6,358 | 86,469 | | | SUV | 1.140.763 | 1.139,399 | 307,678 | 847.013 | | | 狭义乘用车 | 2,229,665 | 2,190,326 | 422,817 | 1,754,874 | | 同期 | 轿车 | 869.811 | 851,211 | 120,005 | 724.933 | | | MPV | 75,892 | 85,058 | 6,213 | 80.736 | | | SUV ...

Core Viewpoint - Honda's net profit for the fiscal year 2024 is expected to decrease by 25% to 835.8 billion yen, primarily due to sluggish performance in the Chinese market. The forecast for fiscal year 2025 indicates a further decline of 70%, bringing net profit down to 250 billion yen [1][2]. Group 1: Financial Performance - For the fiscal year 2024, Honda's consolidated sales increased by 6% to 21.6887 trillion yen, while net profit decreased by 25% to 835.8 billion yen, impacted by weak business in China [2]. - The projected operating profit for fiscal year 2025 is expected to drop by 59% to 500 billion yen, with the impact of increased tariffs estimated to lower operating profit by 650 billion yen [1]. - The anticipated sales revenue for fiscal year 2025 is expected to decrease by 6% to 20.3 trillion yen, with global sales of four-wheeled vehicles projected to decline by 3% to 3.62 million units [1]. Group 2: External Factors - The U.S. government's tariff policy on imported vehicles and the appreciation of the yen are expected to negatively impact Honda's financial performance [1]. - The total impact from tariffs on vehicles imported from Canada, Mexico, and other countries is estimated at 300 billion yen, with additional costs from parts and materials amounting to 220 billion yen for four-wheeled vehicles and 130 billion yen for two-wheeled vehicles [1]. - The assumed exchange rate for the full fiscal year is set at 135 yen per dollar, which represents an appreciation compared to the previous fiscal year's actual rate, contributing to a profit reduction of 452 billion yen [1].

Honda (HMC) reported earnings of 18 cents per share for fourth-quarter fiscal 2025, missing the Zacks Consensus Estimate of 72 cents. The bottom line also declined from the year-ago profit of 99 cents per share. Quarterly revenues totaled $35.1 billion, lagging the Zacks Consensus Estimate of $35.6 billion as well as the year-ago period figure of $36.5 billion.HMC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Segmental Highlights Fo ...

Honda Motor Co., Ltd. (NYSE: HMC ) just posted its earnings for the fiscal year ending March 2025, and while the top-line growth held up well, the real story is in the details. The companyI’m passionate about finance and investing, focusing on business analysis, fundamental analysis, valuation, and long-term growth, especially in sectors like AI, fintech, finance and tech. I study finance and economy and have hands-on experience in equity research, financial modeling, and creating investment content. I acti ...

Industry Overview - The Zacks Automotive – Foreign industry involves designing, manufacturing, and selling vehicles and components, heavily influenced by business cycles and economic conditions [2] - Key manufacturing countries include China, Japan, Germany, and India, with a significant shift towards technology and green vehicles due to stricter emission targets and supportive government policies [2] - Competition is intensifying as foreign automakers invest in R&D for electric and autonomous vehicles, fuel efficiency, and low-emission technologies [2] Key Themes Shaping the Industry - In April 2025, China's passenger vehicle sales reached 1.755 million units, a 14.5% increase year-over-year, with total vehicle sales from January to April exceeding 10 million units, up 10.8% [3] - New energy vehicle (NEV) sales in China surged to 4.3 million units, reflecting a 46.2% increase, making up 42.7% of all new car sales, driven by government incentives [3] - Japan's vehicle sales rose 14% to 1.101 million units in Q1 2025, with a forecasted economic growth of 1.2% in 2025, sustaining vehicle demand [4] - European automakers faced a 0.4% decline in new car sales in Q1 2025, with a projected profit reduction of 20% to 30% due to U.S. auto tariffs and global economic slowdown [5] Industry Performance and Valuation - The Zacks Automotive – Foreign industry ranks 224, placing it in the bottom 9% of around 250 Zacks industries, indicating a negative earnings outlook [6][7] - The industry has underperformed the Auto, Tires, and Truck sector and the S&P 500, losing 15.1% compared to the sector's growth of 10.9% and the S&P 500's 13% [9] - The industry is currently trading at an EV/EBITDA ratio of 7.43X, significantly lower than the S&P 500's 16.56X and the sector's 18.38X [13] Company Highlights - **Toyota**: A leading global automaker focusing on restoring production levels, optimizing inventory, and enhancing its value chain. The Zacks Consensus Estimate for fiscal 2026 sales implies a 5.41% year-over-year growth [19][20] - **Honda**: Aiming for 100% EV and FCEV sales by 2040, with plans to reduce battery costs by over 20% in North America by 2030. The Zacks Consensus Estimate for fiscal 2026 sales implies a 0.13% year-over-year growth [23][25] - **NIO**: A pioneer in China's EV market, with a strong vehicle lineup and plans to expand beyond luxury offerings. The Zacks Consensus Estimate for 2025 sales implies a 50.4% year-over-year growth [28][29]

Group 1: Sales Performance of Japanese Automakers - In April, Toyota's new car sales in China increased by 20.8% year-on-year, reaching 142,800 units, marking three consecutive months of growth, driven by its focus on hybrid and electric vehicles [2] - In contrast, Honda's sales in China fell by 40.8% to 43,689 units, while Nissan's sales decreased by 15.7% to 46,295 units, with Honda experiencing a 15-month consecutive decline and Nissan a 13-month decline [2] - Nissan plans to cut 21,000 jobs, which is 15% of its total workforce, and will close three factories, acknowledging that management errors, particularly in electric vehicle strategy, contributed to its current challenges [2] Group 2: Global Electric Vehicle Market Trends - The global electric vehicle transition is an unstoppable trend, with traditional automakers in Europe, such as Volkswagen and Mercedes-Benz, accelerating their electrification efforts to secure a competitive position [3] - Tesla leads the U.S. market, driving technological advancements in electric vehicles and expanding its global presence, setting a benchmark for the industry [3] - In China, BYD is recognized as a leading electric vehicle manufacturer, with significant advancements in technology and product offerings [5] Group 3: Market Share and Industry Position - In 2022, China's market share of new energy vehicles reached 24.4%, the highest globally, followed by Europe at 17.3%, while India and Japan lag behind [7] - BYD's chairman emphasized that China's new energy vehicle sector is approximately 3 to 5 years ahead globally in terms of technology and product development, advocating for open innovation and international collaboration [9] - The challenges faced by Japanese automakers in the electrification transition serve as a warning for the global automotive industry, highlighting the need for timely strategic adjustments and increased investment in new energy and smart technologies [9]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Viewpoint - The automotive industry, particularly Japanese automakers Honda and Nissan, is facing significant financial challenges due to the impact of U.S. tariffs on imported vehicles and parts, leading to disappointing earnings reports and grim future forecasts for profitability and revenue. Group 1: Honda's Financial Performance - Honda's Q4 operating profit plummeted over 70% year-on-year, with a full-year operating profit decline of 12.2% and a net profit drop of 24.5% [1][3][8] - For the fiscal year ending March 2026, Honda expects a nearly 59% decrease in operating profit, a 70.1% drop in net profit, and a 6.4% decline in revenue [9][10][11] - Honda's Q4 revenue was 5.36 trillion yen (approximately $47.26 billion), aligning with expectations, but the operating profit of 735 billion yen fell significantly short of the anticipated 2.755 trillion yen [4][5] Group 2: Nissan's Financial Challenges - Nissan announced it would not provide an operating profit forecast for the fiscal year ending March 2026, citing tariff impacts and plans to close several production plants, resulting in a workforce reduction of 20,000 employees by fiscal 2027 [1][15] - The company reported a full-year operating profit of 133.71 billion yen, below the expected 138.5 billion yen, with significant losses in North America and Europe [13][14] - Nissan's Q4 net loss was 676.05 billion yen (approximately $4.6 billion), far exceeding the forecasted loss of 128.85 billion yen [14] Group 3: Broader Industry Impact - The global automotive industry is experiencing widespread effects from tariffs, with European automakers like Mercedes-Benz and Stellantis also retracting their performance guidance due to supply chain disruptions and increased vehicle prices [1] - U.S. automakers General Motors and Ford are also facing substantial financial losses due to tariffs, with GM estimating a $5 billion exposure and Ford projecting an annual loss of $1.5 billion [2] - The uncertainty surrounding tariffs has made it difficult for companies to provide reliable forecasts for their business developments [1]

5月13日，日本第二大汽车制造商本田汽车公布的财报显示，2024财年第四财季净利润为305.7亿日元，同比暴 跌87%。本田汽车表示，美国加征关税以及日元走强等因素，将给公司带来近30亿美元的损失，该公司预计， 2025财年营业利润将下降59%至5000亿日元。周二美股盘前，本田汽车股价下跌近5%。 另外，日本车企马自达因美国汽车关税推迟公布2025财年（2025年4月至2026年3月）合并财报预期。该公司认 为，美国政府对汽车加征关税导致不透明的经营环境正在持续，现阶段难以计算。 而经营状况不佳的日产汽车，则决定在全球裁员约2万人，裁员人数相当于该集团员工总数的15%。 有日本券商预计，日本上市企业2025财年(2025年4月至2026年3月)净利润总额较上一财年减少6.8%，为6年来 首次缩水，主要原因是受美国高关税政策影响。 暴跌8 7% 本田汽车今日披露的财报显示，2024财年第四财季（截至2025年3月31日），公司的营业利润为735.7亿日元， 同比暴跌76%，而市场预期为2545.7亿日元；第四财季净利润为305.7亿日元，同比暴跌87%，市场预估为 1515.6亿日元。第四财季，本田汽车的销售 ...

Financial Performance - Honda's fourth-quarter operating profit plunged 76%, missing earnings estimates due to the impact of U.S. tariffs [1] - For the financial year ending in March, Honda reported revenue of 21.69 trillion yen, exceeding the average expectation of 21.63 trillion yen, representing a year-on-year increase of 6.2% [2] - Operating profit for the financial year fell 12.2% to 1.21 trillion yen, below the average estimate of 1.41 trillion yen [2] Quarterly Results - In the fourth quarter, Honda's revenue was 5.36 trillion yen ($47.26 billion), matching expectations [3] - However, the operating profit for the same quarter was significantly lower at 73.5 billion yen compared to 275.52 billion yen in the previous year [3]