Honda Motor Co. on Friday lowered its year-to-March sales forecast to 17.25 trillion yen ($131 billion) from a previously estimated 17.40 trillion yen due to a slowdown in car production and sales in the wake of the coronavirus pandemic in China and chip supply shortages.
Still, the latest sales projection for the year represents an 18.5 percent increase from a year earlier. The company maintained its net profit forecast at 725 billion yen.
For the nine months ended December, its net profit rose 0.2 percent from a year earlier to 583.17 billion yen while sales rose 17.3 percent to 12.52 trillion yen.
