Honda Profit To Drop 63.5 pct
TOKYO (AP) - Honda's profit for the fiscal year through March 2012 is expected to plunge 63.5 percent as vehicles sales slipped amid a parts shortage caused by the quake and tsunami in northeastern Japan.
Honda Motor Co. gave the forecast Tuesday, more than a month later than usual. Like other Japanese automakers, the maker of the Odyssey minivan and the Fit compact needed more time to assess the aftermath of the March 11 disaster.
Honda said it will try to make up for lost time and deliver more vehicles, but it is expecting its global vehicle sales for the fiscal year through March 2012 to drop 6 percent on year to 3.3 million vehicles. Honda had sold 3.51 million vehicles worldwide the previous fiscal year.
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