Honda Raises Outlook Even as Failed EV Bet Weighs on Profit
6 Articles
6 Articles
The forecast rose by as much as 20 percent, especially thanks to the weak yen and the huge jump in hybrid sales in the United States.
Honda raised 20% its annual operating profit forecast, although the restructuring costs of its electrical business hit the quarter. The automaker bet on hybrids to compensate for the fall in China.
Honda Motor raised its operating-profit projections for the current fiscal year by 20%, supported by strong demand for hybrid cars in the US and weak yen, despite lowering its global car sales expectations. Japan's second largest automobile-manufacturing company increased its annual operating-profit projections to 780 billion yen, compared to 650 billion yen previously, while maintaining estimates of [...] Honda raising its annual profit project…
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