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>>Consumers are balking at the high price of Honda's first pickup, the Ridgeline, which went on sale in February.

>> Lack of service capacity has hurt the brand's image, as reflected in customer service studies.

>> Honda steadfastly refuses to give consumer rebates.

"They're in the middle of a price war. Toyota and Nissan are taking initiatives. If Honda doesn't want to deal, Nissan will," says Raj Sundaram, president of Automotive Lease Guide in Santa Barbara, Calif.

Still, Honda's strategy yields strong profits. Honda Motor Co. posted net income of $4.53 billion in the fiscal year ended March 31. By comparison, General Motors had net income of $3.69 billion in 2004, and Ford Motor Co. reported net income of $3.49 billion in 2004.
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