Whoa! We haven't heard a piece of bad news from Honda in a long time, although this bad news really isn't all that bad. Honda reported a 3% dip in profits yesterday, despite record high auto sales in nearly every global market. The profit loss was a result of "valuation losses from derivative products caused by a drop in long-term interest rates". So whatever that quote means is why Honda isn't rolling around naked in a pile of cash right now. (Bonus points to whoever can give a simple explanation of that financial mumbo-jumbo in the comments section.) Honda has raised its forecast for the fiscal year ending in March 2006 and it's determined as ever to achieve its goal of 4 million annual sales in the next three years. It's currently projected to sell 3.415 million vehicles this year.

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