Honda roars into profit again in Q2
Print Edition
HONDA returned to profitability in April-June, recording a 222.5 billion yen (US$2 billion) profit, as better sales and cost cuts added to the Japanese automaker’s bottom line.
Honda Motor Co. had racked up a 80.8 billion yen loss the same period the previous year, when the entire auto industry was hurt by the coronavirus pandemic.
Honda’s quarterly sales totaled 3.6 trillion yen, up nearly 69 percent on year, as global vehicles sales recovered in North America. Its motorcycle sales jumped in India and Indonesia. It sold 998,000 vehicles in the April-June quarter, up from 792,000 the same period last year.
Honda’s financial services improved because of the higher prices for used cars, while its aircraft operations suffered, according to the Tokyo-based maker of the CR-Vsports-utility vehicle, Odyssey minivan, Gold Wing motorcycle and Asimo robot. Honda raised its profit forecast for the year through March 2022, to 670 billion yen.
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