Honda Raises Annual Outlook Despite EV Costs
Honda Motor raised its annual operating profit forecast by twenty percent driven by strong US hybrid demand and a weak yen. The automaker booked three billion dollars in charges for electric vehicle restructuring during the quarter.
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HONDA MOTOR CO LTD raised its annual profit outlook by 20% on Tuesday morning, despite booking $3 billion in restructuring costs for its electric-vehicle business. The upward revision relies on strong hybrid demand in the United States and a favorable exchange rate. The automaker joins peer TOYOTA MOTOR CORP in outperforming rivals through heavy reliance on gasoline-electric hybrids.
