Chinese car-buyers are helping Japan's automobile industry to absorb some of the impact of the worst downturn in decades, quarterly results from Honda Motor and Nissan Motor suggested yesterday.
Honda, Japan's second-biggest carmaker, cited faster-than-expected sales growth in China as it yesterday reported a surprise profit for the three months to June and raised its forecast for the financial year to next March by 38 per cent to Y55bn ($578m).
Nevertheless, Honda saw net profit for the three months to the end of June slump 96 per cent to Y4.17bn, although analysts had expected the carmaker to fall into loss.
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