Honda Motor Profit Forecast Falls Short on Yen Appreciation
- Forecast based on yen at 105 per dollar vs 111 last year
- Carmaker also trying to cope without top-selling SUV in China
The Honda CR-V
Source: Honda
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Honda Motor Co., which until last year was the fastest-growing car brand in China, gave a full-year profit forecast that trailed analysts’ estimates on a stronger yen as it halted sales of its popular CR-V crossover in the world’s largest vehicle market.
Operating profit will probably fall to 700 billion yen ($6.4 billion) in the year ending March 2019, from 833.6 billion yen last year, the company said in a statement Friday. Analysts predicted 870.8 billion yen, according to the average of 19 estimates compiled by Bloomberg.