Honda Sales Plummet Nearly 40 Percent
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TOKYO (WWJ/AP) – Japanese automaker Honda reporting a nearly 40 percent drop in quarterly profit, hit by a strong yen and fading sales in Japan.
The automaker says its October-December profit totaled 81.1 billion yen ($989 million), down from 134.6 billion yen the year before.
Quarterly sales slipped nearly 6 percent to 2.11 trillion yen ($25.7 billion).
A strong yen hurt Honda’s overseas earnings and the end of so-called “green car incentives” hampered vehicle sales in Japan.