TOKYO (Reuters) -Japan’s Honda (NYSE:) Motor raised its full-year working revenue forecast by 4.2% to 1.25 trillion yen ($8.4 billion) on Thursday, helped by strong gross sales in the US, a extra worthwhile product combine and a weaker yen.

The brand new forecast compares with an earlier estimate of 1.2 trillion yen and a mean analyst forecast of 1.271 trillion yen, based on LSEG knowledge.

For the October-December third quarter, working revenue rose 35% to 379.8 billion yen, according to the typical estimate of 371.6 billion yen in a ballot of 9 analysts by LSEG.

Honda mentioned final month its international gross sales grew 5.6% to just about 4.0 million autos in 2023, lifted by a 33% soar in gross sales in the US and marking its first gross sales progress in its greatest market in eight years because the scarcity of high-tech chips abated.

In distinction, it noticed a ten% gross sales hunch in China to 1.2 million autos amid intense competitors from newer Chinese language auto manufacturers.

Honda, a laggard within the shift to battery-powered electrical autos, unveiled plans final month to launch a brand new EV collection from 2026, exhibiting off two idea EVs on the CES commerce present in Las Vegas.

($1 = 148.6100 yen)