Honda nearly triples profit outlook

Full Story at money.cnn.com

TOKYO (Reuters) — Honda Motor Co. nearly tripled its annual profit forecasts and more upside may be ahead, with the company taking a conservative view on the yen and with the effect of easing government incentives unknown.

Honda (HMC), the world’s seventh-biggest car maker, has weathered the industry turmoil that drove two U.S. automakers to bankruptcy this year better than many as its profitable and dominant motorcycle business cushioned the blow.

Sales by the maker of Honda Civic cars have also turned up thanks to government sales incentives such as the United States’ cash-for-clunkers program. That has helped Honda and others gradually lift production levels from a nadir earlier this year.