Honda earnings took a sharp tumble during the most recent quarter, hammered by a variety of problems including the maker’s airbag recalls, as well as sluggish sales in its home Japanese market.
The maker announced the 15% decrease in net income a day after it said it received reports of two more drivers, including one in Houston, who may have been killed by flying debris caused by the explosive malfunction of its airbags.
Honda has been forced to recall millions of vehicles using the supplemental restraint systems produced by supplier Takata. It also had to fix problems with its new Fit subcompact. Analysts have estimated the recalls have cost Honda about $255 million, or 30 billion yen – though the maker did not break out details.