Honda News

Honda beated its forecasts with a 16% rise in quarterly profit after increased exports and currency gains outweighed higher raw material and sales costs and it lifted its full year forecasts to reflect a softer yen. Honda is suffering at home in Japan but it domestic plants are running near to full capacity to fill orders of the Civic, CR-V and Fit overseas. Although Honda has a solid performance in North America, the outlook for the yen seems uncertain. Honda spent $275 million in the first quarter in sales incentives, mostly used to push the final generation Accord out. Honda now expects a positive impact of 27 billion yen from currency swings instead of the 81 billion yen loss it projected three months ago.