Honda reports 38 percent rise in quarterly profit

By Margarita Snegireva. Honda Motor Co posted a better-than-expected 38 percent rise in quarterly profit on Wednesday, helped by strong global sales of its new CR-V crossover and brisk U.S. demand for the Accord sedan.

Photo: Honda reports 38 percent rise in quarterly profit

October-December net profit at Honda, Japan's second-biggest automaker and the world's top motorcycle maker, was 200 billion yen ($1.87 billion), comfortably beating an average estimate of 147.1 billion yen from five brokerages surveyed by Reuters Estimates.

Third-quarter operating profit, which excludes earnings made by its 50-50 Chinese joint ventures, grew 35 percent to 276.2 billion yen.

Honda Motor Company, Limited, or simply called Honda, is a Japanese multinational corporation, engine manufacturer and engineering corporation.

The company manufactures automobiles and motorcycles, trucks, scooters, robots, jets and jet engines, ATV, water craft, electrical generators, marine engines, lawn and garden equipment, and aeronautical and other mobile technologies. Honda's line of luxury cars are branded Acura in North America and China. More recently they have ventured into mountain bikes.

Honda is the largest engine-maker in the world, producing more than 14 million internal combustion engines built each year.

Honda is headquartered in Tokyo, Japan. Their shares trade on the Tokyo Stock Exchange and the New York Stock Exchange, as well as exchanges in Osaka, Nagoya, Sapporo, Kyoto, Fukuoka, London, Paris and Switzerland. American Honda Motor Co. is based in Torrance, California. Honda Canada Inc. is headquartered in the Scarborough district of Toronto, Ontario, and is building new corporate headquarters in Richmond Hill, Ontario, scheduled to relocate in 2008. Hero Honda, a joint venture between India's Hero Group and Honda, is the largest manufacturer of two wheelers in the world. Honda of Canada Manufacturing is based in Alliston, Ontario. Honda has also created joint ventures around the world, such as Honda Siel Cars India Ltd, Hero Honda Motorcycles India Ltd, Dongfeng Honda Automobile Company in China and Honda Atlas Cars Pakistan.