Growing worldwide demand for sport- and crossover-utility vehicles helped Honda Motor Co. beat its own earnings forecast for the July to September quarter.
The third-largest Japanese automaker delivered a 177 billion yen, or $1.7 billion, profit, while Honda also upgraded its forecast for the full year by about 4%, to 415 billion yen, or nearly $4.
The upturn during the second quarter of the Japanese fiscal year was a welcome turnaround. During the April-June quarter Honda profits tumbled 6%, largely the result of the ongoing Takata airbag recalls. Honda is one of the largest customers of Takata, whose defective airbags have now been linked to at least 15 deaths worldwide.