Honda has raised its annual profit forecast, bolstered by record motorcycle sales and strong demand in North America, despite the lingering fallout of its ill-timed bet on electric vehicles (EVs).
In a mixed set of results, the Japanese carmaker said it sees operating profit of ?780 billion ($4.9 billion) in the fiscal year ending March 2027. That is up from its previous guidance of ?650 billion, though less than analyst estimates of ?839 billion.
Underscoring the impact of its massive EV writedown, Executive Vice President Noriya Kaihara said that excluding EV-related losses, operating profit for the full year is projected at ?1.3 trillion. Profit in the three months ended Sept. 30 was ?118 billion, falling well short of estimates for ?265 billion.
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