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It seems Honda may earn the extra cash to build a sports car after all. According to the Nikkei business paper, the Japanese automaker may post a $660 million profit in the first half of its 2009/2010 fiscal year.
This new report contrasts greatly with the Nikkei's previous forecast, which predicted Honda would post a $10 billion loss. For the record, Honda says these predictions "were not based on anything announced by the company," and the official results will be posted on October 27.
Nikkei claims the profit is due in part to major cost cuttings throughout the company, along with sales figures that were higher than expected. Vehicle sales in Japan alone were up approximately 1 percent, thanks to government incentives designed to boost sales of fuel-efficient vehicles. Honda also witnessed growth in emerging markets, and its motorcycle offerings were in high demand in India.
Source: Reuters