T<\/span>OKYO (AP) \u2014<\/strong> Honda Motor Co.\u2019s fiscal second-quarter profit slipped compared to a year ago as costs related to a massive air-bag recall erased the perks of strong sales, the Japanese automaker said today November 1, 2017.<\/span><\/p>\n

Honda reported its July-September profit totaled 174 billion yen ($1.5 billion), down 1.7 percent from 177 billion yen a year earlier.<\/span><\/p>\n

Quarterly sales jumped nearly 16 percent on-year to 3.78 trillion yen ($33 billion), according to the Tokyo-based maker of the Accord compact, Odyssey <\/span>minivan and Asimo robot.<\/span><\/p>\n

In September, Honda and some people suing the automaker over faulty Takata Corp. air-bag inflators agreed to a $605 million settlement in the U.S.<\/span><\/p>\n

Honda was among Takata\u2019s biggest customers. The defective inflators are linked to 19 deaths and dozens of injuries. Some 100 million air-bag inflators were recalled worldwide.<\/span><\/p>\n

Honda raised its full-year forecast through March 2018, to 585 billion yen ($5.1 billion) from 545 billion yen ($4.8 billion) projected earlier, but that\u2019s still 5 percent lower than what it earned the previous fiscal year.<\/span><\/p>\n

For the latest quarter, a favorable currency rate helped Honda\u2019s bottom line. A weak yen is a plus for giant Japanese exporters like Honda, whose overseas earnings rise in value when converted into yen.<\/span><\/p>\n

The biggest sales growth for Honda is recently being marked in China, where demand is strong for the Civic compact, as well as the UR-V and Avancier sport-utility vehicles.<\/span><\/p>\n

Honda is also banking on electric car sales growth in China, where the government is pushing EVs as a major policy, the company said.<\/span><\/p>\n

Honda\u2019s sales did well in Japan as well, where its N-Box series, a tiny car that looks like a box, was a hit.<\/span><\/p>\n

Its motorcycle sales rose 15 percent during the quarter compared to the previous year on healthy demand in India, <\/span>Indonesia and Vietnam, the company said.<\/span><\/p>\n

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Honda recently marked a milestone with its Super Cub motorcycle, reaching 100 million units of global production. Super Cub production began in 1958, and the small scooter-like motorcycle is now produced in 15 countries and sold in more than 160 countries.<\/span><\/p>\n

Although the U.S. auto market lagged in recent months, Honda marked solid sales of its new Accord sedan, Civic <\/span>Hatchback and Acura RDX luxury crossover, doing better than the overall market trend, it said.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Honda Motor’s logo is seen on Civic sedan car at its showroom in Tokyo, Japan October 4, 2017. REUTERS\/Kim Kyung-Hoon Honda had agreed to a $605 million settlement in the U.S in September\u00a0over faulty Takata air-bag inflators in its cars TOKYO (AP) \u2014 Honda Motor Co.\u2019s fiscal second-quarter profit slipped compared to a year ago…<\/p>\n","protected":false},"author":6,"featured_media":4420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,47,55],"tags":[],"_links":{"self":[{"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/5869"}],"collection":[{"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/comments?post=5869"}],"version-history":[{"count":1,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/5869\/revisions"}],"predecessor-version":[{"id":5870,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/5869\/revisions\/5870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/media\/4420"}],"wp:attachment":[{"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/media?parent=5869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/categories?post=5869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/tags?post=5869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}