Honda nearly triples its annual profit forecasts

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.

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