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Honda reports fiscal quarterly loss, to streamline models

May 08, 2019 - Associated Press

TOKYO (AP) - Honda reported a loss for January-March Wednesday, despite growing sales, as an unfavorable exchange rate, income tax expenses and other costs hurt results.

Honda Motor Co. reported a 13 billion yen ($118 million) loss for the fiscal fourth quarter, a reversal from a 107.7 billion yen profit the previous fiscal year.

Quarterly sales rose 3% to 4.05 trillion yen ($37 billion).

For the fiscal year through March, Honda recorded a 610.3 billion yen ($5.5 billion) profi...