TOKYO -- Honda has set an automobile sales target for fiscal 2019 that is lower than the previous year as the company strives to streamline operations in a reversal of a past expansion strategy that ultimately hurt profits.
The automaker announced Wednesday that it aims to sell 5.16 million four-wheeled vehicles this fiscal year, down from the 5.32 million sold in fiscal 2018. This would mark the first year-on-year sales decrease since fiscal 2011, when sales suffered from the devastating earthquake that struck eastern Japan.
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