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Honda’s Q3 Profit Plummets 61% Amid EV Losses and U.S. Tariff Pressures
Honda’s Q3 Profit Plummets 61% Amid EV Losses and U.S. Tariff Pressures
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BTCCSquare news:
Honda's third-quarter earnings collapsed by 61% to ¥153.4 billion, battered by mounting losses in its electric vehicle division and punitive U.S. tariffs. The automaker cited ¥267.1 billion in one-time EV writedowns—including abandoned development projects and underperforming U.S. electric models—alongside a ¥279.5 billion tariff hit from Trump-era import duties.
Key financial metrics deteriorated sharply: revenue slipped 2.2% to ¥15.98 trillion, operating profit halved to ¥591.5 billion, and net income cratered 42% to ¥465.4 billion. The company slashed its full-year outlook, now anticipating a 54.7% operating profit decline and 64.1% net income drop—signaling prolonged headwinds in its transition to electrification.
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