Pioneer Car Electronics Sales Up 25 Percent

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Pioneer

Pioneer Corporation’s car electronics sales grew by over 25 percent to about $843 million in the recent quarter ended December 31.  Car audio consumer and OEM sales increased in North America as well as other regions.

OEM sales accounted for 54 percent of total car electronics sales compared with 52 percent a year earlier.

Total net sales for the company (including home audio) rose almost 21 percent to the equivalent of $1.24 billion and were helped by the depreciation of the yen (by almost 20 percent against the dollar).

Home audio sales grew by 18.5 percent to about $288 million.

The company’s profits were still down for the quarter with a net loss of about $17 million compared to a net loss of $22 million a year ago.

Pioneer expects to be profitable for the full year fiscal year 2014, which ends March 31.  It expects profits of about $5 million (compared to a net loss of $191 million a year earlier).  It expects net sales to hit about $5 billion, up about 12 percent from a year ago.

Source: Pioneer Corporation

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6 Comments

  1. Profit down, sales up. Oh, the cost of Market Share. When the sales rep wants to make his bonus, by ” Buying ” market share,
    Wally Mart Account etc., so his kid gets the cool bike for Christmas, we all suffer, including Pioneer. So price/profit is down, but sales are up. Pioneer picked their ” direction ” years ago, Learn to Live with your poor decisions. Over half of your sales are OEM, they don’t care about aftermarket sales anymore, and their 2014 line up shows it,which is why I don’t sell pioneer in my store anymore. Plus, they have really screwed up distribution, in Northern California. How is that decision working out for you Pioneer???

  2. Mike Cofield and others EXPLAINED to Pioneer in Dallas HOW to make More money and Make more sense with their 12v Aftermarket Line. It made TOTAL sense.
    The Pioneer N. American Bosses scribbled on their notepads with all the common sense ideas presented. RESULT???
    WASTE OF TIME. Because JAPAN calls all the shots.
    The Big Picture? Pioneer needs to Dominate RETAIL Marketshare at any cost to help promote their OE sales, which IS the GROWING segment of 12v audio.

  3. To heck with profit! It’s all about market share. Now they have a bigger piece of the ZERO profit pie.

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