There is no doubt that Honda has bounced back from last year’s natural disasters, reporting a quarterly profit that quadrupled to $1.7 billion. Vehicle sales doubled in the key markets of Japan and North America but were weak in Europe.
Find out if Honda will stick to its profit forecast for the fiscal year through March 2013.
Vehicle sales doubled in the key markets of Japan and North America but were weak in Europe where austerity measures to tackle the region’s debt crisis have crimped demand. Honda reported global sales of 849,000 vehicles for the quarter, up from 458,000 a year earlier.
Honda stuck to its forecast of 470 billion yen ($6 billion) profit for the fiscal year through March 2013. That would be more than double what it earned last fiscal year. It expects to sell 4.3 million vehicles for the fiscal year, up by more than a million vehicles from 3.1 million vehicles for last year.