Honda Raises Full Year Forecast, Records 17% Fall in Q3

Honda Motor has raised its full-year operating forecast on Wednesday, propelled by cost-cutting and a weak yen, despite the global chip shortage.

The automaker has upgraded its latest forecast for an operating profit of 800 billion yen for the year to March 31. Like other companies in the industry, Honda too has been affected by the global chip shortage but stuck to its plan to sell 4.2 million vehicles this business year. 

Honda’s Q3 operating profit has, however, fallen by 17% to 229 billion yen as chip issues curbed car production.

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