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Honda Motor

In a challenging year for car companies across the globe, Honda Motor saw revenues decline more than 4% and profits slump by almost a quarter. The Japanese automaker's core "model mix" of most lower-margin makes was partly to blame. Elsewhere, elevated recall-related costs (faulty airbags) plus higher rebate costs and unfavorable exchange rates hurt the company's bottom line. Honda had been forecasting a better outlook for this year, but that was before the pandemic hit. Now all bets are off. In May, the company reported its lowest operating profit in four years and declined to provide an outlook for the rest of the year.
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