Tokyo — Honda has become the latest automaker to report weaker earnings as global demand softens.
The company said Friday that its profit in the July-September fell 6.7% from a year earlier to $1.8 billion as vehicle and motorcycle sales slipped.
An unfavorable exchange rate also hurt earnings, the Tokyo-based automaker said.
Honda, which makes the Odyssey minivan and Asimo robot, said higher tax expenses also hurt results.
Honda Motor Co.’s quarterly revenue declined 2.9% to $34 billion as sales declined in the U.S., Japan, the rest of Asia and Europe.
Honda lowered its full-year net profit forecast for the fiscal year through March 2020 to $5.2 billion.
That’s down from the $5.9 billion estimate given in August.
Honda said its financial services business did well, helping to offset some of the damage from other divisions.