Japanese automaker Honda reports its 3Q profit jumped on strong demand at home and in the US

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Honda has reported that its profit jumped 34% in the July-September quarter from a year earlier as a cheap yen helped boost the Japanese automaker’s overseas strong earnings thanks to healthy demand, especially in the U.S. Honda’s profit rose to 254 billion yen, or $1.7 billion, from 189 billion yen. Quarterly sales gained 17%. Production in North America continued to recover from the crunch caused by a shortage of computer chips and other supplies. Honda’s senior managing executive officer, Shinji Aoyama, said that contributed to a recovery in profitability. However, the company said that economic slowdowns in China and Vietnam hurt Honda’s motorcycle sales.