Honda lifted its annual guidance far beyond market expectations

Honda Motor Co. exceeded market expectations and in fact, it has lifted its annual guidance after cost cuts pushed quarterly profit to the strongest in the past year and a half. Honda said it predicts further growth in the next fiscal year.

Honda, Japan’s No. 2 carmaker, has endured the financial crisis better than many of its competitors. Honda’s profitable and dominant motorcycle business cushioned the blow to global car demand from the financial crisis. Also, due to the government incentives, Honda’s lineup, which boasts fuel-efficient models such as the Civic and Jazz, has also turned up over the past three quarters.
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