Honda cuts sales forecasts on recalls, competition
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Tokyo
HONDA Motor Co Ltd cut its sales forecasts for this year, citing competition in Japan and China as well as the impact of recalls on new model launches, but said that a weak yen will help it stick to its operating profit estimate at 770 billion yen (S$9.1 billion). Japan's third-biggest
carmaker by revenue also said on Tuesday that operating profit fell 4.1 per cent to 164.4 billion yen in July-September, missing the 184.1 billion yen mean estimate of 14 analysts polled by Thomson Reuters I/B/E/S.
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