Profit at Japan's Honda doubles on healthy global auto and motorcycle sales
Honda says its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates
By YURI KAGEYAMA
Published - Aug 09, 2023, 05:30 AM ET
Last Updated - Aug 09, 2023, 05:30 AM EDT
TOKYO (AP) — Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates.
Honda Motor Co. said its fiscal first quarter profit totaled 363 billion yen ($2.5 billion), up from 149 billion yen.
Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). Honda’s financial service division also reported growing sales.
Honda, which makes the Fit subcompact, Honda e electric car and Gold Wing motorcycle, said its profitability improved, especially in North America, where production recovered.
