Honda Motors reported a substantial rise in third quarter profits for 2023. The auto company announced operating profits up 35% to $2.55 billion (379.8 billion yen). The United States, Honda’s largest market, showed its first sales growth in eight years with a 33% jump. Other factors in the increased profit margins were better product mix and a weakening yen. Honda is now forecasting a 4.2% rise in 2024 to $8.4 billion (1.25 trillion yen). Last month, Honda said the company's global sales had grown by 5.6% to nearly 40 million vehicles sold in 2023. 

The automaker saw a weakening in its sales in China with a 10% sales slump, amid intense competition from newer Chinese auto brands.