Honda's Q3 Operating Profit Rises 5% on Strong US Sales, Weaker Yen
Honda Motor reported a 5% increase in its third-quarter operating profit compared to the same period last year. The Japanese automaker attributed the growth to robust vehicle sales in the United States and a favorable exchange rate.
Honda's quarterly operating profit totaled 397.3 billion yen ($2.58 billion), slightly below the analysts' average estimate of 403.7 billion yen. The company's profit was driven by a surge in demand for its Accord and CR-V models in the US market.
The weaker yen also contributed to Honda's improved financial performance. A weak yen makes Japanese exports more competitive in overseas markets, which benefits automakers like Honda.
Despite the positive results, Honda remains cautious about the future due to ongoing supply chain challenges and economic uncertainty. The company expects its full-year operating profit to decline slightly from the previous fiscal year.