Honda Sales Slipping Right Along With Its Stock

Honda Motor (HMC) saw sales slip 2% in July, blaming profound uncertainties in the auto market.  Apparently, brisk sales of hybrid cars aren’t helping to ease tough economic conditions.  Fuel efficient auto sales increases 14%, while pickup truck, minivan and SUV sales tumbled 23%. 

“The uncertainties in the market have been quite profound in the past few weeks,” Dick Colliver, executive vice president of sales for American Honda, said in a release. “We are adjusting our production to meet the rapidly changing needs of buyers and are confident these changes will provide the needed inventory as we move forward.”

Honda (HMC) plunged more than 5% today and  took out key support of the its 200 day moving average.

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