Honda Reports First Annual Loss in Nearly 70 Years Amid EV Sales Struggles
Honda Motor Co reported its first annual loss in nearly seven decades due to poor electric vehicle (EV) sales and restructuring costs. The company's operating loss for the fiscal year ended March was $2.63 billion, worse than analysts' estimates. Despite this, Honda plans to maintain dividends and expects a return to profitability by 2027.
Topics: automaker restructuring electric vehicles financial loss Honda