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PHOTO CAPTION: Honda sold 2,096 Insight hybrids in April 2009.

Honda Lowers Incentives After Reducing Production

Honda April '09 sales dropped 25%, which is still better than competitor Toyota that dropped 42% over same period.

Published: 16-May-2009

Honda Motor Co., outselling Chrysler LLC in the U.S. this year, plans to lower incentives after curbing production and forecasting a recovery in demand.

The average incentive per vehicle will fall 17 percent to about $1,000 from $1,200 in the year ending March 31, Yoichi Hojo, Honda’s chief financial officer, said in an interview yesterday. Demand is likely to pick up in the second half of the fiscal year, he added.

“We won’t have to offer such large incentives to reduce inventory” this year after adjusting production, he said.

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