Honda's net profit plunges 95.6 percent
Tokyo, July 29 Honda Motor Co saw its net profit plunge 95.6 percent to 7.56 billion yen in the April-to-June quarter because of a global decline in auto sales, the Japanese carmaker said Wednesday.
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.