Reported 19 days ago
Honda Motor reported a surprising 15% decline in its second-quarter operating profit, totaling 257.9 billion yen, significantly lower than analysts' forecasts of 427.2 billion yen. The company attributed the drop to a steep sales decline in China despite stronger performance in the U.S. and Japan. This marks Honda's first year-on-year profit decrease in seven quarters, with total vehicle sales down 1.5% globally. As consumer demand shifts towards electric and hybrid vehicles, Honda is facing challenges in its once-dominant Chinese market.
Source: YAHOO