
Honda Motor reported a 23% increase in first quarter profit as it benefited from a weaker yen, higher pricing and growing hybrid vehicle sales in the US and its home market.
Reuters said quarterly operating profit totalled JPY484.7bn (US$3.3bn) in the April-June period, compared with an average estimate of JPY472.4bn in a poll of seven analysts by LSEG.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company maintained its full year operating profit forecast of JPY1.42trn while slashing its sales outlook for China by 21% to 840,000 vehicles for that period.
Honda had said last week its global vehicle sales grew 2% to 1.9m over the first six months of the calendar year, due largely to a 9% rise in sales in the US, its top market.
In contrast, it faced heavy headwinds in China where it saw sales slump 23% to 416,000 vehicles, Reuters added.

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData