TOKYO — Honda reported Wednesday that its revenue rose 8.7% within the April-June quarter as sturdy gross sales of hybrid automobiles 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 12 months earlier. Quarterly gross sales rose almost 17% to five.4 trillion yen ($36.7 billion).
A positive foreign money alternate price helped Honda, whereas powerful worth competitors in China damage, in line with the maker of the Accord sedan, Match subcompact, Tremendous Cub motorbike and Asimo robotic.
The optimistic affect of a weak yen added almost 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 lately declined to about 147 yen.
Eiji Fujimura, Honda’s chief monetary officer, mentioned the foreign money impact remained unsure, however burdened that Honda was targeted on delivering the precise merchandise to varied markets, serving to making it comparatively resilient to foreign money results.
He acknowledged the shift to electrical automobiles in China was transferring faster than anticipated, and Honda was busy adjusting its manufacturing. All of the Japanese automakers, which dominated in gasoline engine automobiles, face a problem in competing within the EV sector.
Issues additionally stay within the U.S. market, Fujimura mentioned, noting uncertainties over the presidential election in November, although he wouldn’t remark straight on the political scenario. American shoppers have been dissatisfied 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 12 months forecast for 1 trillion yen ($6.8 billion) in revenue, down barely from 1.1 trillion yen racked up the earlier 12 months, on 20.3 trillion yen ($138 billion) gross sales, down from 20.4 trillion yen.
Honda’s motorbike gross sales have fallen in Thailand as a result of its weak economic system however are booming general, together with in India and Brazil, in addition to North America. It expects to promote about 2.97 million automobiles all over the world within the fiscal 12 months ending in March 2025, and 13 million bikes, each about the identical as a 12 months 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 most recent quarter, as a good alternate price boosted its backside line.