TOKYO (Reuters) - Hit by dismal domestic sales and a weaker dollar, Honda Motor reported a 17 percent drop in operating profit on Tuesday and forecast a worse than expected year ahead after being overtaken as Japan's second-ranked car maker.
A day earlier, rival Nissan Motor Co posted a 12 percent jump in annual operating profit as it sold more than three million vehicles to pass Honda and grab second place among Japanese car makers in terms of global sales.
Japan's top auto maker, Toyota Motor Corp, is also expected to rake in record profits when it reports next month, having attacked every major market with new products amid cut-throat competition.
While Honda expects the launch of high-margin cars such as the remodeled Odyssey minivan to spur sales at home this year, analysts said a slowdown in North American sales was a worry since the region accounts for four-fifths of operating profit.
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A day earlier, rival Nissan Motor Co posted a 12 percent jump in annual operating profit as it sold more than three million vehicles to pass Honda and grab second place among Japanese car makers in terms of global sales.
Japan's top auto maker, Toyota Motor Corp, is also expected to rake in record profits when it reports next month, having attacked every major market with new products amid cut-throat competition.
While Honda expects the launch of high-margin cars such as the remodeled Odyssey minivan to spur sales at home this year, analysts said a slowdown in North American sales was a worry since the region accounts for four-fifths of operating profit.
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