Honda posted the first annual loss in its history as Japan’s second-largest automaker absorbed more than $9bn in charges following its disastrous EV drive.
The company said on Thursday that it recorded an operating loss in the year to March of ¥414.3bn ($2.6bn), its first since becoming a listed company in the 1950s.
The loss was worse than the ¥315.6bn that analysts had expected, according to LSEG data, but within estimates provided by the company earlier in the year.
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