Honda Motor reported net profit for the first quarter of its fiscal year more than doubled year-on-year to 450.92 billion yen, supported by strong automobile demand in the North American market and a weaker yen. Operating profit more than doubled to 530.77 billion yen, while total revenue rose 13.5 percent to 6.06 trillion yen. Automobile sales in the quarter came in at 786,000 units, down from 839,000 units in the same period a year earlier, as sales in the Asian market slowed, but sales in Japan and North America continued to expand. Motorcycle sales increased 10.1 percent to 5.66 million units from 5.14 million units, driven by rising demand in the Asian market. Honda also raised its full-year net profit forecast to 400 billion yen from the previous 260 billion yen, and revised its exchange rate assumption to 155 yen per US dollar from the previous 151 yen per dollar.
Honda Motor Co., Ltd.First-quarter net profit more than doubled and full-year forecast raised, driven by weak yen and strong North American sales.
