Honda Motor Co., Ltd. (HMC, Financial) experienced a significant stock drop of 9.12%, closing at $27.538. The decline followed the company's report for the fiscal year 2024 Q2, which showed net sales of 5.39 trillion yen, surpassing market expectations of 5.33 trillion yen.
However, despite strong sales in the U.S. and Japanese markets, Honda's operating profit came in at 257.9 billion yen, falling short of the anticipated 431.09 billion yen. This shortfall was attributed to declining sales in the Southeast Asian and Chinese markets, which offset gains elsewhere.
