Honda Signals Profit Drop
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Honda Motor Co. reported a 76% drop in fourth-quarter operating profit on Wednesday, missing analyst expectations by a wide margin and prompting a sharply downgraded outlook for the fiscal year ahead.
Honda's profit for the fiscal year through March slipped 24.5 per cent from the previous year, as its vehicle sales in China dropped, and the Japanese automaker warned Tuesday that President Donald Trump's tariffs will worsen its earnings.
Honda said its plan to build an EV supply chain in Alliston, Ont. — which was first announced in April 2024 — would be paused for about two years, due to uncertainty caused by tariffs.