Honda Profits Way Up

02/26/96

Reuters reported that Honda's Profits rose 41% in the third quarter of their business year. The rise was fueled by strong domestic sales and a reduction in production costs. The company says that it is right on track to reach this years sales goal of $619 million for this business year, although analysts view this as a conservative estimate and predict annual profits of $628-638 million.

Honda's best seller in Japan is the Odyssey multi-purpose vehicle (98,483 sold between March and December, 1995). Good sales are predicted to continue for all the models Honda currently sells, plus the seven new vehicles it is expected to launch in 1996, including the new Orthia station wagons. Based on these predictions analysts think Honda will see between $666 million and $761 million in profits during the next business year.

Paul Dever -- The Auto Channel