Honda has posted a year-on-year rise in profits of 8.1 per cent between April and June, netting 179.6bn yen (£848m).
The announcement comes as a surprise to many, at a time when Ford has announced a record loss and most other manufacturers are suffering from slowing sales and a struggling economy.
Meanwhile, Honda UK is expecting equally good results. Paul Ormond, head of PR for Honda UK, stated, “We do expect a slight decrease in overall new car sales but the products that we currently have on sale, and those due over the next year, reflect the mood of the consumer. We’re still expecting to sell around 103,000 new Hondas in 2008.”
Honda’s success is not just down to its fuel-efficient vehicles and hybrids. The firm also uses a flexible production scheme, which has allowed its factories to switch from making bigger SUVs to more economical, smaller cars as demand has shifted.
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