Honda posts 78% rise in Q1 profit on U.S. sales jump

📆 8/9/2023 11:20 PM
📰 Reuters

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Honda Motor raced to a big profit in the first quarter. The Japanese automaker saw a 78% yearly rise thanks to better sales, especially in North America, and a weaker yen

reported a 78% rise in quarterly profit on Wednesday, boosted by increased sales, especially in the North American market, and a weaker yen.

That contrasted sharply with a steep 5% drop in sales in China to 309,000 vehicles that Honda reported for the quarter, faced with growing local competition and a rapid shift to electric vehicles in the world's biggest car market.The Honda logo is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File Photo

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Honda Reports 78% Increase in Q1 Operating ProfitHonda Motor, Japan's second-biggest automaker, announced a 78% rise in quarterly profit, driven by higher sales in the North American market and a weaker yen. The company's operating profit reached 394.4 billion yen ($2.76 billion) in the three months through June, surpassing analysts' expectations.
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