Honda has posted operating profit up 37.4% to 284.5bn yen in the quarter to the end of December 31st (Q3 of the current fiscal year).
Sales revenue in the quarter was up by almost 500bn yen to just under 4,000bn yen, up 13%.
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Honda said the improvement to its bottom line reflected positive changes to sales volume and model mix.
Consolidated profit before income taxes for the fiscal nine months amounted to 924.5bn yen, an increase of 12.7%.
The company was also helped in Q3 by the impact of a reduction in corporation tax in the US.
Honda revised its forecasts up for sales and profits in the current fiscal year (April 1, 2017 through March 31, 2018). The forecast for consolidated sales revenue was revised upward by 150bn yen to 15.2 trillion yen, the forecast for the operating profit was revised upward by 30bn yen to 775bn yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 415bn yen to 1 trillion yen.
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By GlobalDataThe company also said it expects to overtake the US as its biggest market for cars 'in the coming years'.
In 2017, Honda's China vehicle sales jumped 15.5% to 1.44m units while in the US they were flat at 1.64m units.
