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Honda shares slide more than 6% as automaker faces first annual loss
Honda expects a $15.7 billion write-down as it cuts EV investments and cancels several models, leading to its first annual net loss since 1957, the company said.
- On Thursday, Honda said it will write off up to 2.5 trillion yen, roughly $15.7 billion, as it cancels three planned US EV models and resets its North American EV strategy, pushing into its first loss since 1957.
- Honda said its EV reset stems from tariff shifts and competitiveness challenges in Asia, while analysts note the $7,500 federal EV tax credit expiry forced automakers to adjust strategies.
- One fully electric vehicle remains in Honda's US range, the Prologue built with General Motors, while the five automaking behemoths have announced $72.9 billion in EV-related write-downs, including GM's $6 billion, Stellantis' $26 billion, and Ford's $19.5 billion.
- Honda now expects to lose as much as 570 billion yen by the year to the end of March and plans a revamped mid-to-long-term strategy in the next fiscal year.
- Goldstein said automakers are not abandoning EVs and forecast a return to growth in 2027, stating, 'No automaker is abandoning plans to sell EVs as a part of their product lineup.
22 Articles
22 Articles
EV Laggard Honda Latest to Bail on EV Plans - CleanTechnica
We’ve seen it from a handful of automakers now. With Donald Trump and Republicans killing EV-friendly policies, they’ve decided to write off billions of dollars of EV investment (perhaps with a bunch of other things stuffed in there) and kill EV plans — whether that be new EV production lines ... [continued] The post EV Laggard Honda Latest to Bail on EV Plans appeared first on CleanTechnica.
Honda shares slide nearly 6% as automaker faces first annual loss
Shares in Honda Motor closed down nearly 6% in Tokyo on Friday after the automaker flagged its first annual loss in almost 70 years as a listed company, hit by up to $15.7 billion in restructuring costs tied to its electric-vehicle business.
Honda shares slide more than 5% as automaker faces first annual loss
TOKYO, March 13 : Shares in Honda Motor fell more than 5 per cent in Tokyo on Friday morning after the company flagged its first annual loss in almost 70 years as a listed company, hit by up to $15.7 billion in restructuring costs at its electric-vehicle business.
Several global automakers have recorded painful accounting losses as they scaled back their ambitions for electric vehicles in recent months.
Honda sees up to 690 bil. yen net loss, 1st annual net loss since listing
Honda Motor Co. said Thursday it expects its first full-year net loss since its listing nearly 70 years ago this fiscal year, as it estimates losses of 2.5 trillion yen ($16 billion) linked to a revamp of its electric vehicle business.
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