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Honda Doubles Earnings

Maker gets big boost from weakened yen.

by on Jan.31, 2014

Strong demand for products like the Honda Civic Coupe combined with a weak yen to double quarterly earnings.

Honda more than doubled its quarterly earnings, much of that gain driven by the weak yen, while also picking up momentum in key markets including North America.

The maker reports it earned 160.7 billion yen, or $1.58 billion for the October-December period – its fiscal third quarter – compared with a 77.4 billion net profit during the same period a year ago.

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Honda has been steadily expanding its global manufacturing operations – it now produces about nine of every ten vehicles sold in North America in the region – but favorable exchange rates nonetheless helped the third-largest Japanese maker deliver such a strong quarter, the weak yen credited with adding $4.2 billion, or 425 billion yen, to its revenues for the quarter.

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