Japan's Honda reports its profit rose on the back of strong U.S. demand
ABC News
Honda has reported its profit rose 3.5% in the October-December quarter from a year earlier on the back of solid demand in the U.S. and Europe and a recovery in its home market
TOKYO -- Japanese automaker Honda's profit rose 3.5% in the October-December quarter from a year earlier on the back of solid demand in the U.S. and Europe and a recovery in its home market, the company said Thursday.
Tokyo-based Honda Motor Corp's profit in the last quarter was 253.3 billion yen, or $1.7 billion. Quarterly sales jumped 21% to 5.39 trillion yen ($36 billion).
A favorable exchange rate helped amplify Honda's overseas profits in yen terms and is expected to continue through the rest of the fiscal year, which ends in March.
The dollar has been trading at about 148 Japanese yen, up from about 140 yen last year.
All the automakers have been hurt by shortages of computer chips and other parts, partly due to disruptions in manufacturing because of the coronavirus pandemic. The latest results show Honda has mostly but not yet fully recovered to pre-pandemic levels in some locations.
