Can Honda Keep Defying Gravity?

So far Japan's No. 2 is weathering the slump in auto sales better than most other automakers, including rivals Toyota and Nissan

In the auto industry, sometimes it pays to avoid the recent fashion. In the late 1990s, when the mantra of auto consultants was that all but the biggest car companies must merge or die, Honda (HMC) remained fiercely independent and flourished. Alliances, including the ill-fated coming together of Daimler (DAI), Chrysler, and Mitsubishi Motors, in most cases didn't pay off.

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