HMC reported lower operating profit in three of 2024's quarters, with Q4 seeing the steepest drop as incentive spending rose. The company is cautious in its forecasts for 2025, not only because of the uncertainties regarding Trump's policies, but also the continuing domestic political upheaval.
HMC Q4-2024 -v- yr ago (ch. %)
Wholesales (excluding non-consolidated Chinese joint ventures) were 1,042,000 units in Q4 2024, up 2.2% as rises in North America, South America, Russia and RoW were partly offset by declines in Korea, Europe and (marginally) India.
