TOKYO — Two big Japanese carmakers are sounding upbeat as they raise full-year earnings forecasts, citing progress in sorting out the semiconductor shortage and improved profitability.
Honda Motor Co. says the worst of the microchip crisis is over, while Nissan Motor Co. says a rush of new product has underpinned a healthier model mix and lower incentives.
Both companies delivered their assessments last week while announcing fiscal second-quarter earnings. Citing a brisk tail wind from favorable foreign exchange rates, the companies also lifted profit outlooks for the current fiscal year ending March 31, 2023, as revenue surges.