Honda first-quarter operating profit drops 16% on lower U.S. car sales

Japan's Honda Motor Co reported a 16% drop in first-quarter operat...

A man is reflected on a window at Honda Motor's showroom in Tokyo, Japan, May 13, 2016. REUTERS/Toru Hanai/File Photo

Japan’s No.3 automaker posted operating income of 252.4 billion yen for the April-June period, compared with 299.3 billion yen a year ago and an average forecast of 246.9 billion yen from seven analysts polled by Refinitiv. It lowered its forecast for global sales in the year to March 2020 to 5.11 million vehicles, from its prior projection of 5.16 million and a record 5.323 million sold last year.

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