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August 5, 2021

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Honda roars into profit again in Q2

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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