Honda Motor, Japan’s second-largest car maker, cut its domestic sales forecast for the current business year on Tuesday to 815,000 cars from 855,000 after a sharper-than-expected slide so far this year, Reuters reported.
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Hit by an ageing model line-up and fierce competition in the stagnant domestic market, Honda’s vehicle sales have fallen 35% in the year to date, Reuters noted.
In a separate report, Reuters cited executive vice president Koichi Amemiya telling a news conference called to discuss Honda’s first fiscal quarter results: “Our products had lost their competitive edge during the first half but we’re keeping our latter-half forecast for an 11% rise in unit sales supported by new models such as the Inspire (luxury sedan) and a new minivan.”
