Reported 19 days ago
Honda Motor Co. announced a nearly 20% drop in profits for the first half of the fiscal year compared to last year, driven by reduced car sales in China despite increased motorcycle sales in Asia. The company's profits fell to 494.68 billion yen ($3.2 billion) from 616 billion yen, prompting a revision of its annual profit forecast downward by 50 billion yen to 950 billion yen ($6.2 billion). Factors such as warranty costs, quality issues, and foreign exchange fluctuations contributed to the decline.
Source: YAHOO