Honda Profits and Sales on the Rise

Following losses a year ago, there has been good news for Honda as they announced profits for the first quarter of 2010. Steady increases in sales of new and used Honda models saw the company make a net profit of £507m between January and March of this year.

The encouraging news means that Honda sales were up 28% over the period – a sizeable increase. The company’s recovery is largely attributed to a recovery in the major US and Japanese markets, although expansion in developing markets such as China also played a major part.

While used Honda cars still prove popular, there is clearly an increasing demand for the new Accord, Civic and Jazz and this is reflected in Honda’s prediction that annual profits for the year will be up as much as ten percent. This forecast is mirrored by other Japanese car makers, who had also struggled the previous year due to the financial crisis.

Tags: Japanese profit sales Used Honda