HMC Cuts Production Again – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16371/HMC+Cuts+Production+Again+-+Zacks+Tale+of+the+TapePosted on Friday, December 12th, 2008 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Honda Motor Co. (HMC) will cut production by 119,000 units in North America for the fiscal year, due to the slump in the automobile market.
With this move, the Tokyo-based automobile company has now reduced a total of 175,000 units from its planned production. For the current fiscal year, the company’s production will total 1,293,000 units, down from its previous year’s levels.
Earlier in November, Honda had suspended production of 18,000-units.
The consensus earnings estimate on this Zacks #5 Rank (”Strong Sell”) company for the current fiscal year remains $2.43.
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