Honda’s profit for the fiscal year through to March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported on Friday.
The maker of the Accord sedan and CR Electric Proto motorcycles was less optimistic about this fiscal year, forecasting that its profit will decline nearly 10% to one trillion yen , as research and development spending was expected to increase to nearly 1.2 trillion yen from 964 billion yen. Honda’s Japanese rivals Motor Corp and Nissan Motor Co, which both reported earnings earlier, racked up robust increases in profit, but also stressed they were investing in research.
Japanese automakers have scored great success with traditional fuel-powered vehicles and hybrids, which have both a gas engine and electric motor.
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Japanese carmaker Honda reports booming profitAnnual profit at Tokyo-based Honda Motor Co totalled 1.1 trillion yen (£5.6 billion) as sales surged nearly 21 to 20.4 billion yen (£104.5…
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