Honda, Tariff Hit
Digest more
23h
AFP on MSNHonda forecasts 70pc net profit dropJapan’s Honda Motor on Tuesday forecast a 70 per cent drop in net profit for the 2025-26 financial year as US trade tariffs weigh on the global auto
The Japanese automaker confirmed it would cut 11,000 more jobs and slim down production.Nissan also saw its profit almost wiped out in the year that just ended.Operating profit hit $472 million in the 12 months to March - a decline of 88% from the previous year.
All three of Japan’s largest carmakers are struggling with tough market conditions in the world’s two largest economies. In the U.S., tariffs have roiled their global supply chains, and in China, they face competition from domestic car companies that sell next-generation electric vehicles at cutthroat prices.