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Honda Forecasts ¥690 Billion Loss After Scrapping Three North American EV Models; Shares Drop 6%
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Honda warns of ¥690 bn loss, cancels 3 North America EV models; shares plunge 6%
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CNBC TV18
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13-03-2026, 11:12
Honda warns of ¥690 bn loss, cancels 3 North America EV models; shares plunge 6%
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Honda Motor Co. forecasts a ¥690 billion net loss, its first since 1977, after canceling three EV models planned for North America.
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The automaker expects to book up to ¥2.5 trillion ($15.7 billion) in charges related to its electric-vehicle business.
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Shares plummeted over 6% in Tokyo following the announcement, marking the steepest intraday decline since April last year.
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CEO Toshihiro Mibe cited suspended EV subsidies in North America and intense competition in China as key reasons for the strategic shift.
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Honda plans to pivot towards hybrid vehicles, streamline North American models, and expand into India, with a revised strategy due in May.
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