Tokyo • Honda's quarterly profit surged nearly 20 percent on demand for remodeled cars in Japan and elsewhere in Asia. The Japanese automaker also raised its full-year profit and sales forecasts.
Honda Motor Co. reported a profit Tuesday of $1.4 billion)for the April-June fiscal first quarter, close to what analysts surveyed by FactSet had forecast.
The automaker raised its annual profit forecast to $5.9 billion from $5.8 billion, and its annual sales forecast to $125.5 billion from $1215 billion.
Honda is Japan's No. 3 automaker.
Demand was strong recently for Honda's new City sedan in India, Mobilio seven-seater in Indonesia and the remodeled Fit subcompact in Japan, helping lift quarterly sales 5 percent year-on-year to $29.3 billion.