Honda Profit Surges on Strong Sales in US and India

Honda Motor Co., the Japanese automaker, reported robust results for its first quarter, with profit more than doubling from a year ago. The company's April-June profit totaled 456.9 billion yen ($2.9 billion), up from 196.6 billion yen for the same period last year.

Quarterly sales rose 13.5% to 6.06 trillion yen ($38 billion), driven by strong vehicle sales in the U.S. and India. Honda's motorcycle operations were particularly lucrative, with sales going strong in Brazil and India.

Chief Financial Officer Masao Kawaguchi said Honda was working to offer models that appeal to Chinese buyers, who have different preferences than those in other markets. The company is expecting a return to profit for this fiscal year, after posting its first full-year loss last year due to heavy costs associated with its electric-vehicle plans.

Honda abandoned many of its EV model plans, citing that consumers were not yet ready to go electric. The Trump administration's policies, including tariffs on imported autos and auto parts, also impacted the company's profitability.