UPDATE 3-Honda beats Q1 estimates but sees tougher year ahead

Newswire

(Recasts) By Chang-Ran Kim, Asia Autos Correspondent TOKYO, July 25 (Reuters) - Honda Motor Co's quarterly earnings handily beat market estimates but it cut its annual profit and global car sales forecasts as it battles with rising costs for raw materials and a crumbling U.S. auto market. Quarterly net profit at Japan's No.2 automaker and the world's top motorcycle maker showed a surprise 8 percent rise on Friday due mainly to a fall in allowances for U.S. sales incentives from the ...

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