Honda books first annual loss, hit by $9 billion EV charge
Honda books first annual loss, hit by $9 billion EV charge
ReutersThu, May 14, 2026 at 4:43 AM UTC
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The Honda Motor logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha
TOKYO, May 14 (Reuters) - Honda Motor posted its first annual loss in nearly 70 years as a listed company on Thursday, hit by U.S. tariffs and more than $9 billion in costs to restructure its electric-vehicle business.
Its operating loss totalled 414.3 billion yen ($2.63 billion) for the year ended March, compared with a median estimate of a 315.6 billion yen loss in a poll of 22 analysts by LSEG and a 1.2 trillion yen profit a year earlier.
Japan's second-largest automaker booked total EV-related losses of 1.45 trillion yen for the business year ended March and expected to face additional costs of 500 billion yen for the year just started.
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The company still expects to return to profitability this year, forecasting a 500 billion yen profit on cost-reduction measures and its profitable motorcycle business.
($1 = 157.8300 yen)
(Reporting by Daniel Leussink; Editing by Jacqueline Wong)
Source: “AOL Money”
