Honda Motor Co., Japan’s third- largest carmaker, reported profit that missed analysts’ estimates for a 10th straight quarter as slumping demand in Thailand prompted the company to cut sales projections.
Honda Motor Co. Executive Vice President Tetsuo Iwamura said the Japanese automaker will set pay based on reaching profitability targets, rather than government directives on how fast to increase compensation.
Honda Motor Co., which makes two of the three cars with the highest North American production levels, became a net U.S. exporter for the first time in 2013, shipping more vehicles overseas than it brought in from Japan.
Honda Motor Co. introduced a performance-oriented sedan that the company says is critical to reversing a drop in premium Acura car deliveries that kept record U.S. sales out of Honda’s reach last year.
Subaru, the auto unit of Fuji Heavy Industries Ltd., added the most U.S. market share of any foreign carmaker last year as the brand long known for quirky all-wheel- drive vehicles continued to win more mass-market fans.