Reported 2 months ago
Honda Motor reported a 23% increase in first-quarter profit, reaching 484.7 billion yen ($3.3 billion), aided by a weak yen, higher pricing, and growing hybrid vehicle sales in both the US and Japan. Despite a 2% rise in global vehicle sales, Honda anticipates a significant drop in Chinese sales by 21% due to market competition and a decline in demand for internal combustion vehicles. The company plans to close a factory in China while transitioning towards electric vehicle production.
Source: YAHOO