Honda says financial crisis is almost over
By Andrew C., 30 Aug, 2010. 0 Comments
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Seems that the sun is rising on Honda's street this period as its profits start to recover from now on. After a period of high sales crush and first decline in the last 9 years, it seems the bad crisis is over now. As Honda's General Manager confirms"The last (January-March) quarter was the nadir, and things will gradually start to improve in the first two quarters (of this year)." The second largest Japanese car produces declared a new profit of 137bn yen for the year to 31 March, with 77% decrease compared with 600bn yen a year earlier. Also for the US car market things haven't been better as a high decline was registered in sales affecting lots of car makers. As a matter of fact the USA climbed down a place behind China as the world's biggest car market of the year. Anyhow, there are big expectations of recovery for both markets.
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