In a reflection of the continued comeback and recovery of Honda from several natural disasters a couple years ago and the automotive industry as a whole, Honda posted more than a $1 billion net profit last quarter, which is a 46% boost from last year.
According to this article, part of that boost in sales is due to an increase in sales of the Honda Accord (14 percent) and Honda Civic (nine percent). Much of the profit can also be attributed to increase in sales in the United States and a weakening Yen in Japan.
“The yen has fallen about 12 percent against the dollar in 2013, creating a tailwind for Japanese brands as they face the most competitive lineup of vehicles in a generation from U.S. automakers GM, Ford Motor Co. and Chrysler Group LLC.”
Of course this is a good sign that people are more confident in their spending and spending their hard earned dollars on Hondas. Honda has worked hard to earn the trust of consumers and that’s reflected in the earnings last quarter!