Tepid sales and a barrage of recall costs hammered profits at Honda Motor Co. in the latest quarter, forcing the carmaker to miss its main targets for full-year earnings and unit sales.Operating profit tumbled 32 percent to 111.94 billion yen ($935.7 million) in the January-March fiscal fourth quarter, from 165.29 billion yen ($1.38 billion) a year earlier.
Net income also fell, dropping 43 percent to 97.84 billion yen ($817.9 million), from 170.51 billion yen ($1.43 billion) the year before. Revenue advanced 8.3 percent to 3.35 trillion yen ($28.00 billion) in the quarter, while global sales inched ahead just 0.8 percent to 1.204 million vehicles, driven by North America and mainland Asia.
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