Honda Posts First Ever Annual Loss After Pullback From EVs

by

Ronnie

As a car, motorcycle, and pick-up truck enthusiast, I love this “Ronnie” email comment on Honda’s stupid losses on its EV output. Btw, I have owned many a Honda product over the years, including a 2018 CRV crossover currently.

– Morgan

https://archive.md/K1MEw#selection-497.0-497.58

The Japanese automaker reported a net loss of $2.7 billion for the fiscal year ended March 31. Earnings were weighed down by more than $9 billion in restructuring charges and write-downs following a retrenchment of its E.V. strategy. It is the first loss that the 77-year-old company has reported since listing on the Tokyo Stock Exchange in 1957.

Oh … what a shame!

Honda, like all of the other automakers, went headlong into the Mind Virus of “net-zero-which-is-nothing-like-net-zero*”.

This was fine while the 3 x Fs were ruling the day: Fanboys, Fleets and Freebies.

Fanboys = Morons with the Mind Virus.

Fleets = Fleets, like Bus Companies, that didn’t want to be penalised by those, in governments, who have the Mind Virus.

Freebies = Government subsidies for buying EVs.

But, guess what? The Government Freebies have now run out, the Fleets have restocked with EVs and won’t need any more for at least 2 years – WHEN THEY WILL HAVE TO REPLACE THEIR ENTIRE FLEETS BECAUSE THE BATTERIES WILL BE USELESS BY THEN – and the Fanboys have all bought their EVs, and are enjoying all the Range Anxieties and all the Recharging Time problems, and all the unnecessary shit that goes with owning an EV.

But now the 3 x Fs no longer exist … so where are the automaker’s profits going to come from?

Well, those profits are not going to come from EVs because no-one with a functioning brain wants one …

… so Honda might be the first to post a loss …

… but they are a very long way from being the LAST!

Ronnie xxx

* Manufacture of the batteries. Wind Farms killing whales etc. etc. etc. etc.