Honda also was hammered in Europe by lower sales. Its unit sales fell 17 percent in Europe, but rose 9 percent in Japan and 3.3 percent in North America. Honda Executive Vice President Koichi Amemiya said losses in Europe were growing, without giving further details. Honda has warned that its European operations would not break even next business year. Honda Motor Co. results for fiscal 3rd quarter ended Dec. 31, in millions of dollars.
Results are consolidated, meaning they include most subsidiaries.
Citing the impact of a weak euro and higher marketing costs, Honda Motor Co. said last week that net and operating profit fell sharply in the third quarter ended Dec. 31, despite higher revenue. Honda's average transaction rate for the euro dropped 20.2 percent to 94 during the quarter from 113 a year earlier. Its unit sales fell 17 percent in Europe, but rose 9 percent in Japan and 3.3 percent in North America. Honda has warned that its European operations would not break even next business year.