Honda sinks into red over quarter amid pandemic sales plunge

The coronavirus has also made the company reaffirm the need to reshape its operations, such as beefing up online sales and growing leaner, Mr Kuraishi added.

Japanese car giant Honda has reported that it sank into the red for the quarter from April to June, as its sales plunged over the coronavirus pandemic, especially in the US, Japan and India.

Honda racked up an 80.8 billion yen (€646m) fiscal first quarter loss, a reversal from the 172 billion yen (€1.33bn) profit the previous fiscal year.