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Honda reports rise in profit on cost cuts, healthy sales

Japanese automaker Honda Motor Co. is reporting a 21 percent jump in fiscal second quarter profit on cost cuts and healthy motorcycle sales

AP Reported by: AP
Published on: October 30, 2018 13:45 IST
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Image Source : AP Honda reports rise in profit on cost cuts, healthy sales

TOKYO (AP) — Japanese automaker Honda Motor Co. is reporting a 21 percent jump in its profit in the last quarter on cost cuts and healthy motorcycle sales.

Tokyo-based Honda, which makes the Fit subcompact, Odyssey minivan and Asimo robot, reported July-September profit of 210.7 billion yen ($1.9 billion), up from 174 billion yen.

It said Tuesday that quarterly sales edged up nearly 2 percent from a year earlier to 3.84 trillion yen ($34 billion).

Honda says costs from recalls and litigation related to defective air-bag inflators made by Japanese supplier Takata Corp. fell, helping lift its bottom line.

Future losses remain uncertain since Honda was among Takata's biggest customers.

Sales of Honda's N-Box series in Japan were strong during the quarter, while truck and Civic sedan sales were solid in the U.S.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
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