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/
