Honda kept its profit forecast for the full fiscal year through
The semiconductor shortage has hurt all the world’s automakers, including Honda, despite strong demand, and the manufacturers have been scrambling to secure alternative suppliers.
Honda, which makes the Accord sedan, Odyssey minivan and Civic compact, sold about 815,000 vehicles last quarter, down from 998,000 vehicles the same period a year earlier. Auto sales dropped in almost all regions around the world, including
“I ask for the understanding from all those who are still waiting for their vehicles and vow that our whole company is doing its utmost to make the deliveries even a day sooner,” Chief Financial Officer
Takeuchi said the semiconductor shortage curtailed motorcycle production as well as car production, adding to uncertainty about future prospects.
Honda said the recent lockdown in
Although
Takeuchi noted that motorcycle sales for the quarter, which grew to 4.25 million motorcycles from 3.88 million a year earlier, were going strong, especially in
The yen has been at a two-decade low against the
Japan’s top automaker
Like the rest of the industry, Honda has aggressive ambitions in electric vehicles. Earlier this year, it announced an investment of
To beef up its capital base and keep a flexible capital strategy, Honda said it was buying back its own company common shares of up to
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