TOKYO — Honda reported a 67 % revenue improve within the newest quarter on greater demand and value reductions.

Working revenue for the three months to Dec. 31 was 277.7 billion yen ($2.65 billion), Honda mentioned in a statement on Tuesday.

“Car gross sales outcomes exceeded the identical interval final 12 months since October due primarily to the launch of latest N-ONE,” Seiji Kuraishi, Honda’s chief working officer, mentioned at a press briefing, referring to the corporate’s micro city car launch in Japan in November.

Honda raised its full-year revenue forecast to 520 billion yen ($5 billion), up from the 420 billion revenue it predicted three months in the past.

Honda mentioned expects to promote 4.5 million automobiles globally in its enterprise 12 months to March 31 in contrast with a earlier forecast of 4.6 million automobiles

China, one in every of Honda’s largest markets, grew by 6.4 % in December because it continued to guide the business’s restoration from the coronavirus pandemic.

Honda is accelerating its shift to electrical automobiles and different zero-emissions automobiles, aiming for two-thirds of its output to be new-energy automobiles by 2030. Final 12 months it launched the Honda e full-electric car and likewise plans to start promoting new autonomous vehicles.

The automaker minimize manufacturing final month by about 4,000 models, primarily affecting its Match and Jazz fashions, as a result of world scarcity of automotive semiconductors.