Honda Motor Co. said its fiscal first-quarter profit totalled 363 billion yen , up from 149 billion yen.
Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again. Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America.
Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered.
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