Honda's Net Profit Falls Over 40 Pct in April-Dec.

Tokyo, Feb. 10 (Jiji Press)--Honda Motor Co. said Tuesday that its group net profit in April-December last year fell 42.2 pct from a year before to 465,437 million yen.

The major Japanese automaker has been hit hard by the slowdown of the electric vehicle market in the United States reflecting President Donald Trump's revision of the nation's EV policy as well as by the impacts of high tariff measures introduced by the Trump administration.

Honda is now poised to review its vehicle electrification strategy, including for the Chinese market.

"The North American (EV) market is in an unfavorable state," Honda Executive Vice President Noriya Kaihara said at a press conference Tuesday. "We will withdraw our (EV-related) plans in China and take on a challenge in the country again after strengthening our competitiveness," he added.

Honda's group operating profit in the first three quarters of fiscal 2025 dropped 48.1 pct to 591,505 million yen, with impairment losses on EV-related inventories and facilities, and the impacts of the high U.S. tariffs pushing down the profit by 267.1 billion yen and 289.8 billion yen, respectively.

[Copyright The Jiji Press, Ltd.]