Honda reduces its yearly operating profit estimate by 67%

On Wednesday Honda reduced its yearly operating profit estimate by 67 percent, its third profit caution this year, as a deepening financial emergency continues to hit international vehicle demand and making the yen soar. The second-biggest carmaker of Japan now anticipates operating profit for the fiscal year to March 31 at 180 billion yen or $2 billion, about 81 percent fall from the previous year. It had earlier forecast 550 billion yen.
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mercuryguy - 12/18/2008 11:40:09 AM

0 Boost

Looks like the Japaneese are next, they are the older kids on the block being steped on by the Koreans and eventually the Chineese

mercuryguy - 12/18/2008 11:40:22 AM

0 Boost

Looks like the Japaneese are next, they are the older kids on the block being steped on by the Koreans and eventually the Chineese

Agent009 - 12/18/2008 12:05:43 PM

+1 Boost

The problem for Honda and Toyota is they are VERY heavily invested in the US Market.

So when the US tanks so do they. This explains why VW/Audi is not hurting as badly. The US portion of their sales is far less in the overall sceme.