Honda reports jump in profits

Honda reports jump in profits

POSTED: Friday, April 27, 2012 - 7:30am

UPDATED: Friday, April 27, 2012 - 7:34am

Honda is reporting a large jump in first quarter profits. Between January and March of this year the company recorded a 61% profit increase. Honda has lagged rivals Toyota and Nissan in recovering from the effects of several natural disasters in Japan and Thailand.

Honda is optimistic about the year ahead, forecasting a near tripling of operating profit. Helping its turnaround, Honda is expected to ride faster than expected growth in the United States, its biggest and most profitable market. U.S. sales of the remodeled CRV Crossover have jumped by more than a quarter so far this year.

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