TOKYO — Honda reported Wednesday that its revenue rose 8.7% within the April-June quarter as sturdy gross sales of hybrid autos in Japan and the U.S., and bikes in India and Brazil, boosted the Japanese automaker’s earnings.
Honda Motor Co.’s revenue within the final quarter totaled 394.7 billion yen ($2.7 billion), up from 363 billion yen a yr earlier. Quarterly gross sales rose practically 17% to five.4 trillion yen ($36.7 billion).
A good forex trade fee helped Honda, whereas robust worth competitors in China damage, in accordance with the maker of the Accord sedan, Match subcompact, Tremendous Cub motorbike and Asimo robotic.
The optimistic impression of a weak yen added practically 48 billion yen ($326 million) to Honda’s quarterly working revenue, the corporate mentioned.
A weak yen works as a plus for Japanese exporters like Honda. The U.S. greenback was buying and selling above 150 yen within the final quarter, though it not too long ago declined to about 147 yen.
Eiji Fujimura, Honda’s chief monetary officer, mentioned the forex impact remained unsure, however careworn that Honda was centered on delivering the appropriate merchandise to numerous markets, serving to making it comparatively resilient to forex results.
He acknowledged the shift to electrical autos in China was transferring faster than anticipated, and Honda was busy adjusting its manufacturing. All of the Japanese automakers, which dominated in gasoline engine autos, face a problem in competing within the EV sector.
Considerations additionally stay within the U.S. market, Fujimura mentioned, noting uncertainties over the presidential election in November, although he wouldn’t remark immediately on the political state of affairs. American shoppers have been upset concerning the quickly falling worth of electrical automobiles that they had simply purchased, together with Honda EVs, he mentioned.
Tokyo-based Honda caught to its fiscal yr forecast for 1 trillion yen ($6.8 billion) in revenue, down barely from 1.1 trillion yen racked up the earlier yr, on 20.3 trillion yen ($138 billion) gross sales, down from 20.4 trillion yen.
Honda’s motorbike gross sales have fallen in Thailand on account of its weak financial system however are booming total, together with in India and Brazil, in addition to North America. It expects to promote about 2.97 million autos world wide within the fiscal yr ending in March 2025, and 13 million bikes, each about the identical as a yr in the past.
Final month, Nissan Motor Co. lowered its annual revenue projection, as income declined regardless of regular gross sales. Toyota Motor Corp. reported document income for the newest quarter, as a positive trade fee boosted its backside line.