TOKYO (AP) — Japanese automaker Honda reported Friday that its revenue rose 23% within the final quarter, regardless of a pandemic that has slammed companies world wide.
Tokyo-based Honda Motor Co. stated its July-September revenue was 240.9 billion yen ($2.3 billion), up from 196.5 billion yen a yr earlier, because the auto market recovered in some elements of the world.
Honda stated it carried out aggressive value cuts that concerned a “basic overview” of its operations. The state of affairs was additionally enhancing from earlier this yr, when lockdowns and different issues associated to COVID-19 brought on disruptions of some manufacturing and a list crunch.
Quarterly gross sales slipped to three.65 trillion yen ($35 billion) from 3.73 trillion yen the identical interval a yr earlier.
Honda, which makes the Accord sedan and Asimo robotic, warned that uncertainty stays amid rising COVID-19 instances. However the firm harassed it was managing to cling to profitability.
Reflecting that upbeat temper, Honda raised its revenue forecast for the fiscal yr by way of March 2021 to 390 billion yen ($3.8 billion) from an earlier projection for 165 billion yen ($1.6 billion).
The most recent forecast continues to be decrease than the 455.7 billion yen revenue Honda booked within the earlier fiscal yr.
Honda bought barely extra automobiles within the quarter by way of September at 1.25 million automobiles, in comparison with 1.24 million automobiles in the identical interval of 2019.