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BRIEFLY

Autos

August 24, 1995| Times Staff and Wire Reports

Honda 1st-Quarter Earnings Plummet: Tokyo-based Honda Motor Co. said its group profit fell 48% as the yen's strength against the dollar cut into the value of overseas sales. For the three months ended June 30, Honda earned about $123 million. That compares to a profit of $238.7 million in the same period last year, which included a one-time, pretax gain of $150.6 million from the sale of Rover Group Ltd. shares. First-quarter sales fell to about $9.74 billion, down nearly 3% from $10 billion a year earlier. Although Honda's overall sales were strong, particularly in Japan, currency exchange rates reduced its profit by $412.6 million.

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