Japan’s Honda sinks for quarter as pandemic crashes sales
TOKYO (AP) — Japanese automaker Honda says it sank into the red for the April-June quarter. Its sales plunged over the coronavirus pandemic, especially in the U.S., Japan and India. Honda Motor Co. racked up an $765 million fiscal first quarter loss. But Executive Vice President Seiji Kuraishi told reporters that sales and profits were expected to rebound. He says the coronavirus has also made the company reaffirm the need to reshape its operations, such as beefing up online sales and growing leaner. Honda acknowledged the future was uncertain since the virus is spreading in some places and economic downturns may affect consumer spending.