Honda's Q1 Profit Soars 78% on Strong U.S. Sales
TL;DR Summary
Honda Motor reported a 78% rise in quarterly profit, driven by increased sales in the North American market and a weaker yen. The company's operating profit for the three months through June was 394.4 billion yen ($2.76 billion), surpassing analysts' estimates. Honda benefited from strong sales in the US, with a 44.7% year-on-year increase, while facing a 5% drop in sales in China due to local competition and the shift to electric vehicles. The company maintained its forecast for a 1.0 trillion yen operating profit for the year.
- Honda posts 78% rise in Q1 profit on U.S. sales jump Reuters
- Profit at Japan's Honda doubles on healthy global auto and motorcycle sales The Washington Post
- Honda More Than Doubled First-Quarter Net Profit as Car Business Recovered The Wall Street Journal
- Honda profits surge 78% on booming U.S. sales Automotive News
- Honda reports 78% rise in Q1 operating profit Reuters
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