Honda Net Profit Up 30 percent

Washington DC July 26, 2006; The AIADA nwesletter reported that Honda Motor Co. posted a better than expected 30 percent rise in quarterly net earnings, fueled by strong U.S. sales, and was successful in maintaining its full-year profit forecast, Reuters reports.

"Higher oil prices and higher gasoline prices have been working very much in favor of Japan's automakers," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments.

"The desire for more fuel-efficient cars has increased worldwide." Honda's fuel-efficient vehicles boosted its U.S. sales by 6 percent last quarter.