Honda's profit rises on weak yen, strong motorcycle sales
Honda's fiscal second quarter profit rose nearly 14% as a weaker yen boosted its overseas earnings and strong demand raised sales of its vehicles and motorcycles
By YURI KAGEYAMA
Published - Nov 09, 2022, 02:54 AM ET
Last Updated - Jun 23, 2023, 05:41 PM EDT
TOKYO (AP) — Honda Motor Corp. said Wednesday that its fiscal second quarter profit rose nearly 14% as a weaker yen boosted its overseas earnings and strong demand raised sales of its vehicles and motorcycles.
Tokyo-based Honda reported a July-September profit of 189.2 billion yen, or $1.3 billion. Quarterly sales rose 25%.
Honda Group sold nearly 5 million motorcycles in the last quarter, up from 4.2 million motorcycles a year earlier. It sold 970,000 vehicles, up from 917,000.
The maker of the Civic, Accord and Clarity fuel cell models said in a statement that its operations were hurt by a semiconductor shortage that has slammed the global auto industry. Rising costs for raw materials also ate into profits.
