Honda Motor saw its net profit in April-to-June period fall 29.5 per cent year-on-year to 172 billion yen (or 1.6 billion dollars), amid declining vehicles sales in U.S and India, the carmaker said on Friday.

Japan’s third-largest carmaker also booked an operating profit of 252 billion yen, down 15.7 per cent from the same quarter in 2018, while sales edged down 0.7 per cent to 4 trillion yen.

“Honda cut its net profit forecast to 645 billion yen for the current financial year ending March 2020 from 665 billion yen estimated three months ago.

“The carmaker also trimmed its sales outlook for the year to 15.65 trillion yen from the 15.7 trillion yen it had predicted in May, while it maintained its operating profit forecast at 770 billion yen.

“Honda expects to sell 5.1 million vehicles and 20.3 million motorcycles in this financial year,“(dpa/NAN)