Tag: Honda

Honda reshapes U.S. operations for speed

“Coming out of the pandemic, the way people are buying products, the way people are interacting with dealers — I think everything needed to be put on the table,” he said.

“Our objective here is to try to make sure we become leaner, less bureaucratic, less risk-averse and not afraid to try new things.”

Restructuring Honda’s sprawling U.S. manufacturing operations will be a big undertaking.

Honda said this month that it will combine its U.S. auto manufacturing operations “related to frame, engine, transmission and related purchasing operations into a new company” called Honda Development and Manufacturing of America. Honda R&D

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Honda plunges into red amid pandemic pain

TOKYO — Honda Motor Co. tumbled to a $1 billion operating loss in the latest quarter amid slumping sales as the COVID-19 pandemic broadsided its key U.S. market.

The Japanese automaker swung to an operating loss of 113.6 billion yen ($1.06 billion) in the fiscal first quarter ended June 30, reversing an operating profit of 252.4 billion yen ($2.35 billion) the year before.

Honda also booked an 80.8 billion yen ($752.4 million) net loss in the three-month period. It had a net income of 172.3 billion yen ($1.60 billion) the year before.

In announcing the results in its Aug. 5

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