Honda Motor Co posted its best quarterly operating profit in two years on brisks in the US, China, and other Asian markets. Japan’s second biggest automaker raised its forecast despite a sharp rise in the yen. Honda’s motorcycle, scooter and ATV sales are up 28.2% over Q1 of 2009, selling over 2.8 million units compared to Q1 2009’s 2.25 million units.
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Honda performed well in the Asian markets, where sales were up 30% by unit volume. Surprisingly, the company’s weakest market was in its home country of Japan, where it sold only 45,000 units, which is the same amount it sold in Q1 2009. In North America sales were up 11%, which means 60,000 sold units. Despite the good numbers, Honda faces concerns over a slowdown in demand in the United States, China and Europe and expects to see its fiscal yearly sales reaching 10.8 million units for 2010.
