Japanese automaker Honda reports its 3Q profit jumped on strong demand at home and in the US
Honda has reported that its profit jumped 34% in the July-September quarter from a year earlier as a cheap yen helped boost the Japanese automaker’s overseas strong earnings thanks to healthy demand, especially in the U.S. Honda’s profit rose to 254 billion yen, or $1.7 billion, from 189 billion yen
TOKYO (AP) — Honda Motor Co.'s profit jumped 34% in July-September from a year earlier as a weak yen helped boost the Japanese automaker’s strong overseas earnings thanks to healthy demand, especially in the U.S.
Tokyo-based Honda’s profit rose to 254 billion yen ($1.7 billion) from 189 billion yen. Quarterly sales gained 17% to 4.9 trillion yen ($32 billion).
Production in North America continued to recover from the crunch caused by a shortage of computer chips and other supplies, contributing to a recovery in profitability, Honda Senior Executive Officer Shinji Aoyama told reporters.
Disruptions due to restrictions on business activity related to the COVID-19 pandemic had caused production delays for automakers around the world, but are gradually clearing up.
