TOKYO – Honda reported Tuesday its fiscal third quarter profit more than doubled to 284 billion yen ($2.7 billion) despite the coronavirus pandemic as auto sales grew in Japan and the U.S.
Japanese automaker Honda Motor Co. had reported a 116 billion yen profit for October-December a year earlier. Honda’s quarterly sales inched up less than 1% to 3.7 trillion yen ($35 billion).
Cost cuts also helped boost Honda’s bottom line, despite difficulties caused by the pandemic, including computer chip shortages, according to Tokyo-based Honda.
The maker of the Accord sedan, CR-V crossover and Asimo robot said it carried out a major review of its operations to streamline expenses.