Japan-based automaker Honda’s profits fell by 31pc in December quarter (Q3) as the company posted a decline in vehicle sales. Honda’s consolidated sales revenue for Q3 amounted to JPY3,747.5bn ($34.11bn), a decrease of 5.7pc compared to last year, due primarily to a decrease in sales revenue from automobile business and negative foreign currency effects.
Honda’s automobile and motorcycle sales grew marginally in the December quarter to 1.408mn and 5.013mn units, respectively.
Honda has not resumed operation in China amid the outbreak of coronavirus post the Chinese New Year holidays. The company has informed that its three auto assembly plants in Wuhan, the epicenter of coronavirus outbreak will remain closed through Feb 13 but other units across China will remain closed only till Feb 9.
($1 = JPY109.86 )