Honda nearly triples its annual profit forecasts
By Andrew C., 30 Aug, 2010. 0 Comments
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Honda Motor Co. announced today that it has nearly tripled its annual profits forecasts, thanks to a dominant motorcycle business and line-up heavy in small cars. The Japanese manufacturer expected to make 55bn instead of 155bn yen. According to the manufacturer, this profits increase is attributed to the revision to state-backed measures to stimulate sales. "Honda's hybrid models have been selling well with the incentives. Whether or not real demand is picking up is still uncertain." said Yuuki Sakurai, chief executive officer of Fukoku Capital Management. Although its main rivals, Toyota Motor Corp. and Nissan Motor Co. are expected to release their numbers next week, analysts say that Honda is seen making the most profit by far for the full year because it is helped by its more flexible operations and fewer exports from Japan.
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