Japan’s Honda reports its profit rose on the back of strong U.S. demand

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Honda has reported its profit rose 3.5% in the October-December quarter from a year earlier on the back of solid demand in the U.S. and Europe and a recovery in its home market. Tokyo-based Honda said its profit in the last quarter was 253.3 billion yen, or $1.7 billion. Quarterly sales jumped 21%. A favorable exchange rate helped and is expected to continue through the rest of the fiscal year, which ends in March. A decline in Honda’s vehicle sales in Thailand and Indonesia was offset by rising sales in China. In January-December 2023, Honda sold 3.1 million vehicles, up from 2.7 million vehicles the year before.