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Japan’s Honda reviews its revenue rose on the again of robust U.S. demand

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TOKYO — Japanese automaker Honda’s revenue rose 3.5% within the October-December quarter from a 12 months earlier on the again of stable demand within the U.S. and Europe and a restoration in its house market, the corporate mentioned Thursday.

Tokyo-based Honda Motor Co.’s revenue within the final quarter was 253.3 billion yen, or $1.7 billion. Quarterly gross sales jumped 21% to five.39 trillion yen ($36 billion).

A positive alternate charge helped amplify Honda’s abroad earnings in yen phrases and is predicted to proceed by way of the remainder of the fiscal 12 months, which ends in March.

The greenback has been buying and selling at about 148 Japanese yen, up from about 140 yen final 12 months.

All of the automakers have been harm by shortages of pc chips and different elements, partly resulting from disruptions in manufacturing due to the coronavirus pandemic. The newest outcomes present Honda has largely however not but absolutely recovered to pre-pandemic ranges in some places.

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Honda’s bike gross sales grew in latest months in Brazil and Europe, in response to the producer of the Match small automobile, Tremendous Cub bike and Asimo robotic.

Honda mentioned it remained dedicated to “initiatives towards electrification,” pointing to the worldwide electrical car idea fashions proven on the Client Electronics Present in Las Vegas, such because the Saloon and Area Hub.

Japanese automakers together with Honda have lagged within the international push towards pure EVs, partly due to their power in different inexperienced fashions similar to hybrids and gasoline cells.

Over the primary 9 months of the fiscal 12 months, Honda offered 3.1 million autos, up from 2.7 million autos the earlier 12 months, with gross sales particularly robust within the U.S.

A decline in Honda’s car gross sales in Thailand and Indonesia was offset by rising gross sales in China.

For the total fiscal 12 months by way of March, Honda is projecting a 960 billion yen ($6.5 billion) revenue, up from an earlier forecast for a 930 billion yen ($6.3 billion), and surpassing the 651 billion yen earned the 12 months earlier than.


Yuri Kageyama is on X: https://twitter.com/yurikageyama

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