Japanese automaker Honda reports booming profit on sales growth, weak yen
Hond has reported that its profit for the fiscal year through March jumped 70% as its vehicle sales grew and a weak yen buoyed overseas earnings
By Yuri Kageyama
Published - May 10, 2024, 10:09 AM ET
Last Updated - May 27, 2024, 12:59 AM EDT
TOKYO (AP) — Honda’s profit for the fiscal year through March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported Friday.
Annual profit at Tokyo-based Honda Motor Co. totaled 1.1 trillion yen ($7 billion) as sales surged nearly 21% to 20.4 billion yen ($131 million).
Weaker sales in China were offset by strong demand in the U.S. market.
Honda sold more than 2.8 million vehicles globally, up from 2.3 million a year earlier, with sales growing in Japan, the U.S. and Europe.
