WRAPUP 3-Honda slashes forecast again, outlines counter-moves

miércoles 17 de diciembre de 2008 11:40 CET
 

* Honda hacks profit forecast by 2/3, worse than feared

* Honda shares down 7.5 pct in Germany HMC.F

* GM, Chrysler await rejigged U.S. bailout plan

* Nissan cuts further 78,000 units from Japan production

* GM opens new 150,000 unit China plant with SAIC (Adds battery venture with GS Yuasa, S&P on Toyota, details)

By Chang-Ran Kim, Asia autos correspondent

TOKYO, Dec 17 (Reuters) - Japan's Honda Motor Co (7267.T: Cotización) issued its third profit warning this year, slashing its operating forecast by two-thirds as the global recession batters car sales and sends the yen soaring.

The deeper-than-expected revision at Japan's No.2 automaker could touch off similar moves at domestic rivals Toyota Motor Corp (7203.T: Cotización) and Nissan Motor Co (7201.T: Cotización), also reeling from the dollar's fall to 13-year lows against the yen JPY=.

Automakers everywhere are under enormous pressure to cut costs and save cash to weather the storm as tight credit and weak consumer sentiment hammer demand.   Continuación...