Honda, Tariff Hit
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Tariffs could cost Japan's second-largest automaker up to 650 billion yen this financial year—equivalent to $4.4 billion and almost half last year’s profit. Reporting results Tuesday, Honda forecast a roughly two-thirds slide in operating profit for the year through March 2026,
The Japanese automaker confirmed it would cut 11,000 more jobs and slim down production.Nissan also saw its profit almost wiped out in the year that just ended.Operating profit hit $472 million in the 12 months to March - a decline of 88% from the previous year.
Japanese automaker Honda says it's pausing a $15-billion investment plan that would have seen four new electric vehicle factories built in Ontario. Honda says it's because of slow market growth in the EV sector due to Trump's trade war.
The Canadian Press on MSN14h
Honda delays $15-billion EV project citing demand, shifts some CR-V output to U.S.Honda has postponed a $15-billion electric vehicle project in Ontario, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market to its Ohio plant because of tariffs.
Honda Motor (NYSE:HMC) announced on Tuesday a two-year postponement of its ambitious $15 billion electric vehicle investment project in Ontario. The Japanese automaker pointed to a slowdown in global EV demand and mounting economic uncertainty linked to new U.