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Honda reports drop in quarterly profit

Honda reports drop in quarterly profit

Honda Motor Co. reported a 41 percent drop in second fiscal quarter profit on declining sales and a strong yen.
Honda said Tuesday that its July-September profit was 123.3 billion yen ($1.3 billion).
Toyko-based Honda, which has marketed fuel-efficient models like Civic and Accord sedans, has not suffered the deep problems of its US rivals but the results show the company isn't immune to a global slowdown.
The surging yen, which erodes the value of the automaker's overseas earnings, has added to a bleaker outlook for Honda.