Honda’s profit drops on air bag recall expenses, flat sales

  • News Digest

Feb 2, 2019-

Japanese automaker Honda Motor Co.’s fiscal third-quarter profit fell 71 percent from a year earlier as air-bag recalls and flat vehicle sales offset gains from cost cuts, the company said on Friday. Tokyo-based Honda’s October-December profit totaled 168 billion yen ($1.5 billion), down from 570.3 billion yen a year earlier. Quarterly sales were unchanged at 3.9 trillion yen ($36 billion). Honda has suffered from a massive global recall of Takata air bags whose inflators can explode with too much force, hurling shrapnel into drivers and passengers. At least 23 people have died from the problem worldwide and hundreds have been injured. Honda said it is facing various class action lawsuits in the US related to the air bags. (AP)

Published: 02-02-2019 13:11

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