Honda Reports Its First Yearly Loss In 70 Years

(MENAFN- Investor Brand Network) Japanese auto giant Honda reported its first annual loss in its 70-year history after its foray into electric vehicles didn't pay off. The company had forecast robust electric vehicle demand and invested accordingly, but market conditions nosedived and the firm reported a loss of $2.68 billion for its fiscal year ending in March this year.

Hewson expects the future to present other twists and turns in the EV industry, and many auto firms will be unable to make the quick adjustments needed to survive those changes. Growth-focused entities like Massimo Group (NASDAQ: MAMO) would be well advised to...

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