Honda reports quarterly loss, to streamline Versions

Honda has reported a reduction for January-March, as an unfavorable exchange rate, income tax costs and other costs hurt effects, even though growing sales.

Honda Motor Co. reported Wednesday a 13 billion yen ($118 million) loss for its fiscal fourth quarter, a change from a 107.7 billion yen gain the prior fiscal year.

For the fiscal year through March, Honda recorded a 610.3 billion yen ($5.5 billion) gain, down 42 percent annually due to an absence of a U.S. tax breakthat boosted earnings the prior calendar year.

Chief Executive Takahiro Hachigo announced Honda will streamline its own product offerings, consolidating model variants, and increase parts-sharing to decrease costs.

He said the very first version produced under the new”structure” will launch next year.