Hybrid sales drive up Honda profits by 23%

Honda said its global vehicle sales grew 2% to 1.9 million over the first six months of the year, largely due to a 9% rise in sales in the US. 

Japanese carmaker Honda reported a 23% increase in profit during the first three months of its latest financial year as the company benefited from a weaker yen, higher pricing and growing hybrid vehicle sales in the US. and its home market.

Japan's second-biggest carmaker said quarterly operating profit totalled 484.7bn yen (€3bn) in the April-June period, compared with an average estimate from analysts of 472.4bn yen.