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Honda Profits Plunge 61% as Automaker Pivots to Fleet Sales
Honda reports a staggering 61% drop in quarterly profits amid weakening consumer demand. The automaker is now aggressively pursuing fleet sales to stabilize revenue.
Key Takeaways
- Honda reports a 61% drop in quarterly operating profits to 184 billion yen, rattling the global auto industry
- Softening demand in North America and China, plus rising costs and BYD competition, drove the steep decline
- Honda pivots to fleet sales, targeting a 35% increase in deliveries to rental agencies and corporate customers
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DT Editorial AI··via reuters.com