Honda quarterly profit falls 22% on recall costs, strong dollar

Honda earnings took a hit from added expenses to address the ongoing recalls of Takata airbags. Honda and other automakers have had to call back millions of vehicles using potentially defective airbag inflators that can explode with too much force.

Looking ahead, Honda lowered its revenue target for the current fiscal year ending March 31, 2016. Honda now expects revenue of 14.55 trillion yen ($120.76 billion), compared with an earlier outlook of 14.60 trillion yen ($121.17 billion). Honda lifted its full year sales forecast to 4.735 million vehicles, from an initial goal of 4.73 million.