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Honda's profits halved

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Honda's profits halved

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Honda’s profits between July and September more than halved after car sales continued to fall during the global economic downturn.

Japan’s second-largest carmaker said the strong yen had contributed to a fall in sales in overseas markets. Sales in Japan have been less affected, largely due to government tax breaks and incentives on Honda-s hybrids. The fall in profits was still less than expected, and the manufaturer tripled its full-year profit forecast.