In this Gateway Pundit article, Michael Austin reports that Honda’s electric vehicle push has contributed to the automaker posting its first annual loss in decades.
- Honda reportedly posted its first annual loss since becoming publicly listed in 1957, with EV-related costs playing a major role.
- The article says the company suffered a $2.7 billion loss in the past fiscal year.
- Honda faces roughly $9 billion in restructuring costs tied to weaker-than-expected electric vehicle demand.
- The company cited declining EV demand, including the effects of U.S. environmental regulation rollbacks and other market factors.
- Honda CEO Toshihiro Mibe said the company is scrapping a prior target for electric vehicles to account for 20 percent of profits by 2030.
- The article says Honda’s total EV-related losses are expected to reach $16 billion.
- Trump administration trade policies and tariffs on automotive parts also reportedly squeezed Honda’s profit margins.
- Despite the setback, Honda is still pursuing carbon neutrality and continuing research into future technologies, including EV batteries.
- Honda’s motorcycle business helped soften the blow, with the company reportedly selling 20 million more motorcycles than the prior year.
- The article notes Honda is still expected to return to profitability for the fiscal year ending in March 2027.
Read the full story: https://www.thegatewaypundit.com/2026/06/electric-vehicles-lead-major-car-maker-report-first/
Drudge Report is not alone as more popular news aggregators turn against President Trump. For the real news and opinions from across the web that Americans need, check out JD Rucker’s curated links.
