(April 26, 2013) Honda reported today a 6.6 percent rise in quarterly net profit, helped by the yen's rapid depreciation and strong sales of its Accord and CR-V models the United States. In the quarter ended March 31, Honda recorded a net profit of 75.7 billion yen ($760.88 million), compared with 71.5 billion yen in the same period last year.

The Japanese currency has lost about 14 percent of its value versus the dollar since the start of 2013, helping carmakers export vehicles from Japan more cheaply and convert profits made overseas into yen at a more favorable rate.

Honda said its net profit for the year ended March was up 73.6 percent to 367.15 billion yen ($3.69 billion).

In the U.S., Honda's deliveries rose 5.5 percent to 337,651 units in the three months ended March, according to industry researcher Autodata Corp. Honda saw its best year in the U.S. in 2007 at 1.55 million vehicles and is aiming to break that record this year, according to Tetsuo Iwamura, executive vice president.

Deliveries of the Accord, Honda's best-selling model in the U.S., jumped 36 percent last month, while the Toyota Camry ceded its rank as the best-selling model in the mid-size sedan segment.

Sources: Honda, Reuters