Japanese automaker Honda reported quarterly profit growth of 78% year over year. informs Reuters.
In the first quarter of the fiscal year (starting in April at Japanese companies), Honda posted a profit of 394.4 billion yen (268 billion rubles) against 222.2 billion yen (151 billion rubles) a year ago.
Honda was able to increase its profits significantly due to strong sales in the US, a key market for the automaker. In this country, the company sold 347,000 cars, 44.7% more than the previous year.
Sales growth at Honda is attributed to reduced interruptions in spare parts and microchip supplies. At the same time, Honda sales in China fell 5% in the quarter to 309,000 vehicles. This is due to the high competition in the local market and the active transition of Chinese consumers to electric vehicles.
before BMW introduced Armored version of the 7 Series sedan.