Honda Joins Rivals in Warning of Costly Slowdown in EV Growth

Honda Motor Co. added to a chorus of global automakers warning of the costly fallout from slowing demand for electric vehicles, as well as persistent pressures from US President Donald Trump’s tariffs.

The Japanese carmaker said one-time EV-related expenses, including losses and impairments on vehicles sold in the US and write-offs of development assets, cost it ¥267.1 billion ($1.7 billion) in the nine months ended Dec. 31. On top of that, it saw a ¥279.5 billion hit from US import duties.