Honda reports drop in quarterly profit
Honda reported a 41 percent drop in quarterly profit Tuesday on declining sales and a stronger yen, forcing Japan's second-biggest automaker to lower its forecasts for the full year.Honda Motor Co., with its fuel efficient Civic and Accord models, has avoided the deep problems of its money-losing American rivals.
Honda says its profit for the October-December quarter soared fivefold from the previous year to 134.6 billion yen as it slashed research expenses and other costs to offset declining sales.